KRBL has rallied 19% at Rs 30.15 on hopes that the government may lift the ban on export of non-basmati rice.

The export of non-basmati rice was banned in April 2008 to control high inflation. Recently, export of 1.5 lakh tonnes of three superior varieties of non-basmati rice was allowed. Record harvests in the ensuing years, as also purchases from farmers saw stockpiles of rice, wheat and other grains at 47.3 million tonnes in state warehouses as of 1 February, a newspaper report quoted the Food Corporation of India as saying.

The stock of KRBL opened at Rs 25.50 and hit a high of Rs 30.20 on the BSE. The trading volumes on the counter jumped more than ten-fold, with 12 million shares changing hands so far as against an average one million shares traded daily in the past two weeks.