Gujarat Ambuja Exports jumps 20%

DALAL STREET SPIKES

Gujarat Ambuja Exports surged 20 per cent from its previous close of Rs 26 to touch an intraday high of Rs 31.20, and settled for a close at Rs 30.10, gaining nearly 16 per cent.

Volumes soared a whopping 74 times compared with the previous trading session "� from 13,631 shares of April 4 to over a million shares traded on April 5.

The stock gained on the expectation that the company will go for buyback in the near future. The company had announced on April 2 that it had set aside Rs 26.25 crore for buyback of its shares through open market purchases.