Shares of Kaya, Alok Industries, Birla Tyres, Borosil Renewables, Hathway Bhawani Cabletel & Datacom, and Dalmia Bharat Sugar and Industries were among the 38 stocks whose market price has more-than-doubled over the past one month.

Besides, Nectar Lifesciences, Bilcare, Satin Creditcare Network, Aayush Food and Herbs, Ujaas Energy, Anjani Foods and Tiaan Ayurvedic & Herbs have also appreciated by an over 100 per cent during the same period.

Shares of Borosil Renewables, formerly known as Borosil Glass Works, hit the 5 per cent upper circuit band for the eight straight trading session, to trade at Rs 111.50 on the BSE on Friday. In the past one month, the stock has zoomed 220 per cent on expectations of higher demand for solar glass.

The Ministry of Finance had recently proposed to impose basic customs duty (BCD) on solar cell and module imports to encourage domestic manufacturing. “Although the news does not pertain directly to imposition of custom duty on glass, it would have a direct bearing on increased production of Photo Voltaic modules in India, which would lead to a corresponding increase in demand for solar glass in due course,” Borosil Renewables said on June 10.

"This may be the probable reason for increase in trading volume of the share," the company said in a clarification on sudden increase in volume and price of security.

On the other hand, Birla Tyres, a B K Birla group company engaged in auto tyres & rubber products business, soared 189 per cent to Rs 35.90 from level of Rs 12.43. Last year, Kesoram Industries demerged its tyre business into a separate firm, Birla Tyres, to create and unlock value for both the businesses.

Shares of Alok Industries, meanwhile, have zoomed 187 per cent to Rs 37.95, from level of Rs 13.24, on the BSE with the stock hitting 5 per cent upper circuit for 35 consecutive trading sessions. Reliance Industries Limited held 37.7 per cent stake in the textiles company, as on March 31, 2020.

Shares of skin and hair care solution company Kaya, too, has seen its market price more-than-double from a level of Rs 134.90 to Rs 275.90 today.

Ace investor Radhakishan Shivkishan Damani had acquired more than one percentage stake in the company during the March quarter. Damani had picked up a 1.11 per cent equity stake or 144,464 equity shares in Kaya, the March shareholding pattern data shows. Damani had nil holdings in these companies at the end of the December quarter.