Autoline Industries announced that a meeting of the board of directors of the company will be held on Dec. 22, 2014, to consider and note status of transaction related to stake sale in the Autoline Industries Inc. USA, a wholly owned subsidiary of the company.

The stock had underperformed the market over the past one month till Dec. 17, 2014, falling 12.55% compared with the Sensex's 5.21% decline. It outperformed the market in past one quarter, gaining 14.37% as against 0.30% rise in the Sensex.

Shares of the company gained Rs 7, or 10.79%, to trade at Rs 71.90. The total volume of shares traded was 81,639 at the BSE (10.06 a.m., Thursday).