Volumes jump at Torrent Pharmaceuticals counter

Havells India, Manappuram Finance, Suven Life Sciences and AXIS Bank are among the other stocks to see a surge in volumes on BSE today, 9 January 2014.

Torrent Pharmaceuticals clocked volume of 6.32 lakh shares by 13:31 IST on BSE, a 39.13-times surge over two-week average daily volume of 16,000 shares. The stock rose 0.4% at Rs 473.

Havells India notched up volume of 2.74 lakh shares, a 17.43-fold surge over two-week average daily volume of 16,000 shares. The stock lost 1.15% at Rs 825.65. The stock hit a record high of Rs 844.95 in the intraday trade today, 9 January 2014.

Manappuram Finance saw volume of 28.92 lakh shares, a 5.31-fold surge over two-week average daily volume of 5.45 lakh shares. The stock was locked at 20% upper circuit at Rs 18.15 after the Reserve Bank of India (RBI) on Wednesday, 8 January 2014, relaxed norms for non-banking finance companies' (NBFCs) lending against gold jewellery.

The central bank on Wednesday, 8 January 2014, hiked loan-to-value ratio (LTV) to up to 75% for loans against the collateral of gold jewellery from 60% with immediate effect.

Suven Life Sciences clocked volume of 11.61 lakh shares, a 5.02-fold surge over two-week average daily volume of 2.31 lakh shares. The stock rose 3.99% to Rs 78.10 after the firm said it has secured 3 product patents one each from Australia, Sri Lanka and South Korea for NCE's for the treatment of disorders associated with neurodegenerative diseases. The announcement was made during trading hours today, 9 January 2014.

AXIS Bank saw volume of 6.88 lakh shares, a 2.67-fold rise over two-week average daily volume of 2.58 lakh shares. The stock lost 2.37% at Rs 1,184.

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