Vikas WSP extends rally as futures trade in guar resumes

The stock was up 14% at Rs 33.10, extending its previous day's 20% rally on BSE.

Vikas WSP has surged 14% to Rs 33.10, extending its previous day’s 20% rally, on re-launching of futures trading of guar gum and seeds on commodity exchanges.

In March 2012, the Forward Markets Commission (FMC) had banned futures trade in these commodities, owing to a sharp rise in prices.

Vikas WPS is a leading guar gum powder manufacturer, with sizable stocks of guar seeds.

The stock opened at Rs 31.90 and hit a high of Rs 33.35 on the Bombay Stock Exchange (BSE). The counter has seen huge trading activity with 1.47 million shares already changed hands till 1038 hours against an average less than 400,000 shares that were traded daily in past two weeks on BSE.