The stock was the second largest gainer in the A group, up from Rs 606.60 to Rs 823.25 in three trading sessions. The trading volumes on BSE and NSE increased 15 fold, from 5.40 lakh shares to 80.96 lakh shares.

The company has awarded a Rs 2000 crore re-development contract to Larsen and Toubro for developing nine million square foot area of textile mills and spring mills complexes within a time-frame of four years. It would be an all-commercial project, comprising retail, IT and hospitality space, with no residential component.

According to a technical analyst at Latin Manharlal Securities, the stock gave a breakout last week after a gap of two months accompanied with huge volumes. Technically, the stock is in a bull orbit and will move to Rs 875 in the short term and around Rs 1150 in the long run.

The stock futures of Bombay Dyeing rose by 35.7 per cent last week, with the open interest increasing by 32.7 per cent, largely on account of long positions.

However, almost the entire open interest exists in April futures and a further upmove will depend on high rollovers into the May series.