Century Enka freezes at 20% upper circuit; stock zooms 58% in a month

Last month, the board had approved Rs 263 crore capex plan to have necessary assets for upcoming business opportunities

Shares of Century Enka were locked in the 20 per cent upper circuit band at Rs 396.60 on the BSE on Wednesday on the back of heavy volumes. In the past one month, the stock of the company, engaged in manufacturing of synthetic yarn, has zoomed 58 per cent as compared to a 5.6 per cent rise in the S&P BSE Sensex.

Trading volumes on the counter jumped over five-fold with a combined 2.7 million shares having changing hands on the NSE and BSE till 01:13 pm. There were pending buy orders for 174,000 shares on both the exchanges,