Vadilal Industries has surged 13% at Rs 249, its historic high on back of over two-fold surge in trading volumes on the Bombay Stock Exchange (BSE).
A combined 525,754 shares have already changed hands on the counter in early noon trades, against an average less than 180,000 shares that were traded daily in past two week on both the exchanges.
The Gujarat-based ice cream and frozen foods company has been in focus, gaining 39% in past one week as compared to 1.4% rise in the Sensex. The stock has rallied more than 100% in last one month (from Rs 121) on the BSE.
The company had reported a 59% year-on-year jump in net profit at Rs 13.78 crore for the first quarter ended June 30, 2012. At a meeting held on July 30, the company's board gave an approval for undertaking capital expenditure of Rs 30.62 crore towards expansion-cum-modernisation of its ice-cream production facilities situated at Pundhra (Gujarat) and Bareilly (Uttar Pradesh), as well at its processed food division situated at Dharampur (Gujarat).
