Carborundum Universal rose 2.54% to Rs 317 at 15:30 IST on BSE, extending Monday's 0.7% gain triggered by the company's announcement that its board will consider a 2-for-1 stock split along with Q1 results on 5 August 2011.

The stock had risen 0.7% to settle at Rs 309.15 on Tuesday, 26 July 2011, after the company announced the board meeting after market hours on Monday, 25 July 2011. The stock has risen 3.26% in two trading sessions from a recent low of Rs 307 on 25 July 2011, boosted by the stock-split plan.

Meanwhile, the BSE Sensex was down 85.92 points, or 0.46%, to 18,432.30.

On BSE, 13,783 shares were traded in the counter as against an average daily volume of 9,848 shares in the past one quarter.

The stock hit a high of Rs 329.50 so far during the day, which is a record high for the counter. The stock hit a low of Rs 306 so far during the day. The stock had hit a 52-week low of Rs 202 on 30 August 2010.

The mid-cap stock had outperformed the market over the past one month till 26 July 2011, gaining 8.42% compared with the Sensex's return of 1.52%. The scrip had also outperformed the market in past one quarter, rising 27.41% as against 5.26% decline in the Sensex.

The company has an equity capital of Rs 18.71 crore. Face value per share is Rs 2.

Carborundum Universal's consolidated net profit surged 52.4% to Rs 49.43 crore on 23.2% rise in net sales to Rs 433.01 crore in Q4 March 2011 over Q4 March 2010.

Carborundum Universal makes over 20,000 different varieties of abrasives, refractory products and electro-minerals. The company has fully integrated operations that include mining, fusioning, wind and hydro power stations, manufacturing, marketing and distribution.