State Trading Corporation Shares Soar 20%
State Trading Corporation shares surged 20 per cent to an intraday high of Rs 172.10 on Monday amid high volume.
Shares in the PSU commodity trading and distribution company witnessed heavy trading activity, with a more than 5.32 times spurt in volume.
At 12:08 p.m., over 5.7 lakh shares had exchanged hands on the BSE, as against a two-week average of 1.08 lakh.
Smithblock Financial Services Pvt Ltd on December 23 bought four lakh shares in State Trading Corporation at the price of Rs 142.25, bulk deal data from the National Stock Exchange showed.
The stock outperformed the broader markets on Monday, as the Sensex fell nearly 300 points at day's low while the Nifty breached 7,900 on the downside. Including Monday's gains, the stock has risen 44 per cent in two trading sessions.
For the financial year 2015-16, State Trading Corp had logged a net profit of Rs 17.86 crore over revenue of Rs 10,825.68 crore.
The stock was locked in the 20 per cent upper circuit on the Bombay Stock Exchange at noon.
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