PSL zoomed 11.5% to settle at Rs 142. The counter finally witnessed a four-fold increase in its traded volume of 767,408 shares as against its two-week average traded quantity of 198,622 shares.
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(Updated 1206 hrs)
PSL has skyrocketed to a new 52-week high on the back of a Rs 500 crore order from Gail India.
The stock opened at Rs 131 and soared over 13% to a new 52-week high of Rs 145. It is now trading near its high at Rs 144 - up 12.7%. The stock has gained 45% in the past month. Over 510,479 shares have been traded on the counter so far, as against its two-week daily average trade of 198,622 shares.
According to a release issued by the company to the BSE, it has bagged a Rs 500 crore order from Gail India for supplying quality API 5L X-80 grde PSL-2 Pipes for Gail's Dahej-Vijaipur Pipe Line Upgradation Project (DVPL-II). This is the sixth successive order in the last three years from Gail India.
