Meanwhile, the BSE Sensex was up 23.69 points, or 0.24%, to 6953.36.
On BSE, 21,568 shares were traded in the counter as against an average daily volume of 39,266 shares in the past one quarter.
The stock hit a high of Rs 55 and a low of Rs 53.50 so far during the day. The stock had hit a 52-week high of Rs 65 on 10 December 2009 and a 52-week low of Rs 11.90 on 8 April 2009.
The stock had outperformed the market over the past one month till 16 December 2009, rising 23.50% as compared to the Sensex's 0.70% decline. It outperformed the market in past one quarter, soaring 47.46% as against 1.41% increase in the Sensex.
The small-cap metallurgical coking coal maker has an equity capital of Rs 15.50 crore. Face value per share is Rs 10.
The current price of Rs 54.50 discounts the company's Q2 September 2009, annualised EPS of Rs 6.81, by a PE multiple of 8.
Ennore Coke's chief executive, Ganesan Natarajan was quoted by the media as saying that the company is in the process of acquiring 90% stake in an Australian mining company called Broughton at an estimated cost of arounf $15 million, and with reserves of 30 million tonnes of coking coal.
The company is also looking at coking coal assets in New Zealand with minimum reserves of 30-40 million tonnes, he added.
Ennore Coke's net profit surged 5180% to Rs 2.64 crore on a 720.1% rise in sales to Rs 116.54 crore in Q2 September 2009 over Q2 September 2008.
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