Shares of Stone India have rallied 12.4% to Rs 30 in trades today after the company announced signing memorendum of understanding with Voit, Germany.
"The company has recently executed a Memorandum of Understanding with Voith Turbo Scharfenberg GmbH & Company of Germany for Indian Railways coupler business," the company said in a filiing to the BSE. It is a multi-project engineering company located in Kolkata, has been serving the Indian rail road industry for nearly eight decades.
The stock opened at Rs 26 and touched the high of Rs 30 in intra-day deals. The trading volumes on the counter have seen a surge as 53,523 shares have changed hands compared to its two-week average of 6,940 shares.