Shares of Balrampur Chini Mills surged 9% on Tuesday, November 3, to close at ₹655 apiece, marking the stock’s biggest single-day gain since mid-August.
Although there was no immediate fundamental trigger behind the rebound, a sharp spike in trading volumes helped the stock recover from its recent weakness. Around 7.7 million shares changed hands across the BSE and NSE during the session, nearly 12.2 times the stock’s weekly average volume, according to Trendlyne data.
A rebound in the broader market, along with better-than-expected September-quarter performance by peer Triveni Engineering & Industries, also supported investor sentiment.
Despite Tuesday’s recovery, Balrampur Chini Mills shares remain down around 11% from their October high of ₹736 and nearly 16% below their record peak of ₹781.
Triveni Engineering & Industries reported a more than fourfold jump in consolidated net profit to ₹93.65 crore for the quarter ended September, compared with a net loss of ₹11 crore in the corresponding quarter of the previous fiscal year.