Stock of this shipping company has zoomed nearly 250% in last four months

On Monday, the board of KMEW approved the allotment of 565,000 equity shares at an issue price of Rs 700 per equity share on a preferential basis to investor Ashish Kacholia and others.

Shares of Knowledge Marine & Engineering Works (KMEW) rallied 5 per cent to hit a new high of Rs 918 apiece on the BSE on Wednesday amid heavy volumes. In the past three trading days, the stock of the shipping company has rallied 16 per cent after its board approved a preferential issue to investor Ashish Kacholia and others.

At 11:15 am; KMEW was trading 2 per cent higher at Rs 890 on the back of a nearly three-fold jump in trading volumes. As many as 118,000 shares had changing hands on the counter so far as compared to