Shares of Khaitan (India) Ltd jumped as much as 12 percent to Rs 62.60 on Wednesday amid high volumes.

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At 11:20 am, shares were trading up 10.71 percent at Rs 62 on the Bombay Stock Exchange. It opened at Rs 59 and hit intra-day high of Rs 62.60, which is just a tad lower from its 52-week high of Rs 62.95.

The exchange has sought clarification from Khaitan with reference to increase in price. The company is yet to reply.

The stock has been gaining for the last four days and has risen 47.41 percent in the period, outperforming the sector by 9.88 percent.

For the year, Khaitan India has returned nearly 234 percent, outperforming the Sensex by almost 210 percent. Year-to-date, the stock has gained nearly 60 percent in absolute terms.

The sugar manufacturing company reported net sales at Rs 24.72 crore for the quarter ended on June 30th 2018, with the near term sales trend positive. In June 2017, the company reported net sales of Rs 12.19 crore.

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