GVK Power and Infrastructure has rallied over 21% to Rs 15.35 on back of heavy volumes. As many as 44.52 million shares have already changed hands on the counter in noon deals against an average sub 14.26 million shares that were traded daily in past two weeks on both the exchanges.
The stock is outperforming the market by surging 31% in past four trading days compared with 5% rise in the benchmark index Sensex after the company won approval from the Australian state of Queensland for a proposed 500-km rail line, clearing another hurdle for its $10 billion Alpha coal project.
"This investment will deliver wider benefits as it provides both initial and additional capacity to satisfy both Galilee and Bowen Basin rail capacity requirements in the future" GVK chairman G.V. Krishna Reddy said in a filing.