This shipping stock has surged over 800% in 10 months; hits record high

Shares of Knowledge Marine & Engineering Works (KMEW) has zoomed 44 per cent in the past two trading days

Shares of Knowledge Marine & Engineering Works (KMEW) hit a record high of Rs 392.40 on the BSE on Monday as the stock rallied 20 per cent amid heavy volumes in an otherwise weak market. The stock of the shipping company has zoomed 44 per cent in the past two trading days. In comparison, the S&P BSE Sensex was down 0.7 per cent at 55,680 at 11:52 AM.

Trading volumes on the counter jumped nearly 16-fold with 251,000 equity shares changing hands, as against an average 16,000 shares that traded daily during the past two weeks on the BSE.