Kwality Dairy (India) saw its stock rise 10.20% in just two trading sessions from a recent low of INR135.75 (US$2.91) after the company fixed June 16 as the record date for a 5:7 bonus issue.

The stock opened on Bombay Stock Exchange (BSE) with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level so far.

Kwality Dairy's net profit galloped 455.1% to INR5.44 crore (US$1.17 million) on 81.2% surge in net sales to INR338.04 crore (US$72.45 million) in Q4 March 2010 over Q4 March 2009.

The company's equity capital is INR18.20 crore (US$3.9 million). The promoters of the company are not participating in the bonus issue

Kwality Dairy (India), incorporated in 1992, is a New Delhi-based company engaged in manufacturing, marketing and distribution of dairy related products. The company's products include skimmed milk powder, dairy whitener, ice cream mix powder, butter and ghee, both in bulk as well as in consumer packs.

Its plant spreads across six-acres complex at Faridabad near Delhi, with a capacity of processing 450,000 liters of milk per day and 1,000 million tonnes of ghee per month.

The company also supplies milk to FMCG companies like Nestle India, Hindustan Lever and Mother Dairy, Vadilal Industries and Smith Kline Beecham, among others.