I was checking out a stock named Ruchi Soya, that went from 18-25 to 480 in maybe 2 months. But the daily traded stocks are very less in number. There were days the stock price hit the upper circuit of a whooping 10%.
Anybody wanna shed some light on, how these things take place.
Here are the links for any further details: NSE and MoneyControl
This is not an ordinary case of a surging stock, but appears to be some kind of bizarre data glitch. The chart shows this stock trading normally (up and down, but in a long-term downtrend) until November 2019, then the data skips to January 2020, and since then the stock is shown as rising almost exactly 5.0% every trading day for months, resulting in an impossibly smooth exponential curve.
This is not a possible behavior of any traded stock (see this answer for why). It indicates that the "prices" shown are being calculated artificially and are not actual trade prices. Moreover, on the 1-day and 1-week charts where I would expect intraday movements to be shown, there are none, only daily prices. Given the apparent halt in November 2019, I wonder if the stock has since been trading at all. Perhaps a bug in the data service began to replace missing data with a calculation based on a notional 5% daily change.
A stock that received tremendous good news could rise a similar total amount in a similar time, but the rise would be much more irregular, with most of the gains concentrated in a few trading days, and many up and down days interspersed where traders recalibrated their expectations, took profits, etc.
EDIT: A news article linked by Dheer confirms that the stock was trading (in some sense) as of February 2020, but I still believe there were no actual shares bought or sold at the prices on the chart. Perhaps the daily limit was 10% at one point and then changed to 5%. The chart still does not reflect real prices. It is presumably based on a calculation that assigns a closing "price" when no trades happened. And the reason I believe no trades happened is that no one would sell at today's "price" knowing the "price" will be 5% higher tomorrow.
Rather, I suspect there is a bid/ask that has been very high for a while and has been following the "irregular" pattern I described above. But this bid/ask has not resulted in any shares changing hands, because the exchange artificially prohibits trades at prices that increase more than 5%. Then, the exchange presumably calculates an "official daily close" which is limited to a 5% move in the direction of the bid/ask. This official (artificial) price has been playing catch-up for months. A very unusual situation.
