Shares of Gujarat Gas Company and Karnataka Bank have surged over 7% each on back of heavy volumes.
Gujarat Gas Company has soared 8% to Rs 351 extending its past four days gain on the BSE. The stock of gas distribution firm has rallied 20% in past one week after its board an interim dividend of Rs 7 per equity share of face value Rs 2 each for the current financial year.
The counter has seen over three-fold jump in trading volumes with a combined 600,000 shares changing hands so far on both the exchanges.
Karnataka Bank is trading higher by 7.5% at Rs 110 on back of over two-fold jump in trading volumes. The stock opened at Rs 103 and has seen a combined 6.67 million shares changing hands on the counter so far on the BSE and NSE.
According to media reports, Mangalore-based Karnataka Bank plans to double its business to Rs 1 lakh crore by fiscal 2015. The bank’s board has approved the business process reengineering report submitted by management consultancy firm KPMG Advisory Services (P) Ltd.
