On Wednesday, Prism Johnson (PJL) shares surged 13% to Rs 130.30 on the BSE in intraday trade on heavy volume on expectations of improving operating results.

The stock is trading at its highest level since December 2022. It touched a 52-week high of Rs 143.80 on September 20, 2022. At 12:12 pm, PJL was quoted at an 11% premium to the S&P BSE’s 0.05% drop. The average over-the-counter volume jumped more than five-fold today, with 3.9 million shares changing hands on the NSE and BSE.

PJL is an integrated building materials company with a wide range of products such as cement, ready-mix concrete (RMC), ceramic tiles and sanitary products. PJL Group currently has four divisions – Cement, HRJ, RMC and RQBE General Insurance Co. It has a six-decade track record in India’s tile industry and is the second-largest player.