Hanung Toys and Textiles has rallied 8.5% to Rs 105.75, extending its over 22% surged in past two trading days, on back of huge volumes. The trading volumes on the counter jumped almost four-fold today.

As many as 888,284 shares have already changed hands on the counter till 0930 hours, against an average 240,000 shares that were traded daily in past ten trading days.

On Friday, the company informed the stock exchanges the promoters have not exercised their option to convert the 1.25 million warrants into equity shares of the company.

The last date for the exercise of the conversion right of the warrant holder was December 06, 2011, within 18 months from the date of their allotment.