Shares of Visaka Industries Limited, a company primarily engaged in cement & cement products business, are firmly cementing their place in positive territory, vaulting on unusually large volumes on Thursday.

The stock spurted to Rs 779.40, a new all-time high on BSE. On the National Stock Exchange, it touched a high of Rs 777.

At Rs 773.30, the stock is now up nearly 17% from its previous closing price.

The stock, which was hovering around Rs 730 in mid-October 2017, declined sharply to Rs 530 levels by mid-November 2017, before edging higher again on renewed buying support.

Around this time last year, the stock was trading at Rs 186, and this has been a pretty good climb for the stock since then. The stock has gained a whopping 316% over the last twelve months.

On BSE, the Visaka Industries counter has clocked a volume of over 11.6 lakh shares so far in the session today, as compared to average daily volume of just around 1.37 lakh shares.

On the National Stock Exchange, the counter has clocked a volume of nearly 8 lakh shares so far in today’s session.

The nearly four decades old company started manufacturing corrugated cement fiber sheets in 1985 with an initial production capacity of 36,000 tons per year at Patancheru, Telangana, and then diversified into manufacturing Synthetic Yarn in 1992. Through Airjet spinning technology, the company produced about 2000 tons of man-made yarns per annum.

Currently, Visaka is the second largest cement sheet manufacturer in the country. The company’s 8 factories spread across the country, roll out 802,000 tons of corrugated sheets every year. The company forayed into fibre-cement boards & panels business in 2009, aiming to cater to the needs of modern construction Designs.

In financial year 2015-16, Visaka’s turnover crossed Rs1000 crore. A good dividend track record and debt repayment plans, has made Visaka Industries stock a good long term option for investors.

In the second quarter ended September 2017, Visaka Industries posted Net Operating Income of Rs 200.42 crore, up 4.21% over income in the corresponding quarter of the previous year. Net profit was up sharply at Rs 8.79 crore, up from Rs 70.8 lakh in the year-ago quarter, but much lower than a net profit of Rs 16.62 crore in the preceding quarter.