K S Oils was locked at 5% upper circuit at Rs 2.20 at 15:09 IST on BSE on reports that the bankers have shortlisted bidders to sell the company's edible oil business and wind power assets.
Meanwhile, the S&P BSE Sensex was down 184.42 points or 0.68% at 26,876.62.
The stock spurted on massive volumes. On BSE, so far 49.08 lakh shares were traded in the counter as against average daily volume of 4.82 lakh shares in the past two weeks.
The stock hit a low of Rs 2.10 so far during the day.
K S Oils reported a net loss of Rs 123.44 crore in Q1 June 2014, lower than net loss of Rs 171.30 crore in Q1 June 2013. Net sales declined 96.82% to Rs 10.44 crore in Q1 June 2014 over Q1 June 2013.
K S Oils is an integrated edible oil company.
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