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Jindal Drilling and Industries Ltd jumped as much as 16.3 per cent to ₹176 rupees, its highest since February 14. The company has reached settlement for an arbitration award worth $31.77 million for damages passed against the company, for $9.1 million with complete waiver of all other costs.
At about 11.45 am, the stock was quoting at ₹165.95, up ₹13.70 or 9 per cent.
The stock posted its biggest intra-day percentage gain since June 16, 2017. More than 540,000 shares were traded, over 10 times the 30-day average of nearly 51,000. The company provides drilling services to oil and gas explorers.
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