Markets witnessed another session of buying in trade, as investors continued to remain positive on stocks. The belief was that the US Federal Reserve would not cut interest rates any time soon.
Many stocks were on fire, with several of them hitting the 20 per cent, which is the upper circuit limit. There were only buyers in select stocks, as the frenzy continued. Take a look at 6 stocks that jumped upto 20 per cent in trade.
Dharani Sugars was locked at the upper end of the circuit filter with only buyers in the stock. The shares were up 20 per cent at Rs 41.45 on the NSE. There were buyers in the stock of more than 1 lakh shares, with no sellers.
Sugar stocks have been the darling of investors in the last one year. Both domestic, as well as local prices of sugar have gone-up dramatically in the last few months, which has fuelled a rally in almost all of the sugar shares.
Watch for these stocks in the nest few months.
United Breweries Holdings
This was another stock that was up a superb 20 per cent. Again, like Dharani Sugars there were only buyers in the counter. The stock was locked at the upper end of the circuit filter at Rs 43.92.
It was very difficult to ascertain the reasons for the gains in the stock, as there was no information given to the exchanges.
Interestingly, the shares of the company had also hit the upper end of the circuit filter on Friday as well. The shares of the company have now risen almost 60 per cent in the last one year.
McDowell Holdings was another star in trade, gaining almost 16 per cent.
Again, there were no reports of any notice sent to the exchanges. The shares of the company were last trading at Rs 39.25 on the NSE.
Polyplex Corporation saw its shares jump 14 per cent at Rs 338.40. There was also significant volumes seen in the shares.
The company has informed that it has acquired the entire equity stake in Peninsula Beverages and Foods Company Private Limited, India. Now Peninsula Beverages and Foods Company Private Limited has become direct wholly owned subsidiary of the Company.
This perhaps led to a spurt in the stock price of the company. Polyplex is is among the world's largest Polyester film manufacturers.
Arshiya International has seen its share price triple in the last three months. From Rs 13 in June 2016, the stock is now trading at Rs 53.
Arshiya International is a leading logistics and supply management service provider. The Group offers a wide range supply chain infrastructure services as well.
The shares of the company were up 13 per cent in trade today at Rs 35.
Shares in Kesar Enterprises rallied as much as 12.5 per cent at Rs 53.80. Kesar Enterprises is a diversified company with interest in sugar, spirits and power among others. Again, there was no such notice given to the exchange, so it was difficult to ascertain the reasons for the jump in the share price.
Volumes in the counter were also pretty decent.