Volume Shocker: Vikas WSP

As many as 3.98 million shares have changed hands on the counter so far, against an avearge less than one million shares in past ten trading days

Vikas WSP has rallied 10% to Rs 72.40 on over four-fold jump in trading volumes on the Bombay Stock Exchange. As many as 3.98 million shares have already changed hands on the counter so far, against an average less than one million shares that were traded daily in past two weeks.

The stock of India's only listed guar gum processor has rallied 79% in past one-and-half months from Rs 40.50 on July 4, as compared to a marginal less than 1% rise in benchmark Sensex.

The company has announced its March quarter earnings on June 17, reported more than double net profit at Rs 71.16 crore for the fourth quarter ended March 2012 against Rs 26.76 crore in year ago quarter.

 

Meanwhile, according to media reports, India's production of guar seed, crucial for the global shale energy industry, is likely to fall this year as scant rains in key growing areas curbed sowing in June and July.