Shares of Jet Airways (India), Vakrangee, Goldan Tobacco, Suven Life Sciences, Orchid Pharma, Bafna Pharma, Dynacons Systems & Solutions and Aarvee Denims were among the 29 stocks that have seen their market price more-than-double in the past one month on strong rally in equity markets.
Shares of Jet Airways (India) were locked in the 5 per cent upper circuit band for the eighth straight day, surging 102 per cent in the past one month on revival hopes. The stock was trading at its 52-week high level in the intra-day deals today.
According to a Business Standard report, the new owners of Jet Airways plan to operate it as a full-service airline with a strong presence in the domestic market while connecting prominent European and West Asian cities with Delhi, Mumbai, and Bengaluru. Jet, which was grounded in April 2019 as it ran out of cash and failed to get emergency funding, will remain listed, according to a person close to the owners. CLICK HERE TO READ FULL REPORT
Meanwhile, shares of Golden Tobacco were frozen at the upper circuit of 20 per cent at Rs 50.20, zooming 59 per cent in the past three trading days. In the past month, the stock of cigarettes and tobacco products company has surged 126 per cent, as compared to a 6-per cent rise in the S&P BSE Sensex.
Golden Tobacco, in its financial year 2019-20 annual report, said that the Bombay High Court has attached the Company’s property situated at Vile Parle Mumbai. However, the attachment made by the excise department is still continued. The management is hopeful to get this lifted as well and thereafter the management will look into the possibility of dealing the said property in a suitable manner. The Company is also in process to develop its Property situated at Guntur Andhra Pradesh, it said.
Shares of Suven Life Sciences, on the other hand, hit their upper circuit for the fourth consecutive day, up 5 per cent, at Rs 105 on the BSE. The exchanges has changed circuit limit of the stock to 5 per cent from 10 per cent with effective from today. The stock of the pharmaceutical company has rallied 124 per cent in the past one month.
In a clarification on its stock price movement, the pharmaceutical company said on Wednesday that at this point of time, they do not have “any material announcement/event due for notification to the stock exchanges which may have a bearing on the price or volume behaviour of the scrip”.
“We request you to disseminate this clarification on your website for information to the general public, which is also being uploaded on our Company’s website,” the company said in a BSE filing.
That apart, shares of Dynacons Systems & Solutions hit a fresh 52-week high of Rs 86.10, up 10 per cent on the BSE in intra-day trade. The stock of the information technology consulting & software company has rallied 88 per cent in the past one week. The company on Tuesday announced that it won contracts worth Rs 24.51 crore for supply, installation and maintenance of HyperConverged Infrastructure and implementation of private cloud from the government-owned Union Bank of India.