KRBL surges 17% in two days on heavy volumes; stock hits over 3-year high

Last week, the government imposed 20 per cent export duties on various grades of rice like non-basmati, unmilled, semi-milled or totally milled, and husked brown.

Shares of KRBL hit over three-year high of Rs 355.60 on the BSE, as the stock soared 11 per cent in Tuesday’s intra-day trade, amid heavy volumes.

The stock surpassed its previous high of Rs 337.45 that it had touched on October 14, 2021. It traded at its highest level since June 2019. Earlier, the stock had hit a record high of Rs 673 on December 21, 2017.

In the past two trading days, the stock of the world's leading basmati rice producer surged 17 per cent. On the other hand, the stock price of KRBL zoomed nearly