The board will also consider the postal ballot notice to get shareholders approval for the said preferential issue.

Meanwhile, the S&P BSE Sensex was up 12.58 points, or 0.04% at 32,414.95. The S&P BSE Small-Cap index was up 4.45 points, or 0.03% at 16,898.12.

High volumes were witnessed on the counter. On the BSE, 95,708 shares were traded on the counter so far as against the average daily volumes of 10,172 shares in the past one quarter. The stock had hit a high of Rs 247.95 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 211 so far during the day. The stock had hit a 52-week low of Rs 120.25 on 16 November 2016.

The stock had outperformed the market over the past one month till 19 September 2017, gaining 4.01% compared with 2.78% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 41.01% as against Sensex's 3.48% rise. The scrip had also outperformed the market in past one year, gaining 33.9% as against Sensex's 13.16% rise.

The small-cap company has equity capital of Rs 5.05 crore. Face value per share is Rs 10.

Bhagiradha Chemicals & Industries reported net loss of Rs 3.58 crore in Q1 June 2017 compared with net profit of Rs 0.45 crore in Q1 June 2016. Net sales declined 12.1% to Rs 36.93 crore in Q1 June 2017 over Q1 June 2016.

Bhagiradha Chemicals & Industries is based at Hyderabad and dedicated to the manufacture of high quality pesticides.