Griffin Chemical does a KGN, zooms 1,820%

MUMBAI: Close on the heels of robust performance on re-listing by little known firms such as Sylph Technologies and KGN Industries , Griffin Chemicals on Wednesday witnessed a similar trend and surged as much as 1,820% on the Bombay Stock Exchange.

Griffin Chemicals settled for the day at Rs 24, up 1,820% on the BSE and over 5,623 shares were traded. The scrip got re-listed after six years at Rs 23 on the bourse, registering an increase of a whopping 1,472% over its previous closing price.

The company���s last traded price as on August 8, 2002 stood at Rs 1.25. Griffin Chemicals opened on a firm note at Rs 23 and then rallied ahead to witness an intra-day high of Rs 50 and an intra-day low of Rs 22. Meanwhile, the BSE has notified trading members ���not to enter orders at unrealistic prices��� . ���The daily circuit filter in the equity shares of Griffin Chemicals is being kept open on June 11, in order to enable the members to deal in the scrip at a realistic price level,��� the BSE added.

Surge in Griffin shares follows the unprecedented rise in stock prices of KGN Industries and Sylph Technologies during their re-listing.