Meanwhile, the S&P BSE Sensex was up 123.83 points or 0.51% at 24,498.23.

On BSE, so far 4,925 shares were traded in the counter as against average daily volume of 20000 shares in the past two weeks.

The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level at Rs 16.19 so far in the day.

Shares of Ester Industries have rallied 10.21% in two trading sessions from Rs 14.69 after the company after market hours on 21 May 2014 reported turnaround Q4 March 2014 results. The stock had rallied by the maximum permissible limit of 5% to settle at Rs 15.42 on Thursday, 22 May 2014.

Ester Industries reported a net profit of Rs 1.27 crore in Q4 March 2014 as against net loss of Rs 7.37 crore in Q4 March 2013. Net sales rose 12.4% to Rs 237.75 crore in Q4 March 2014 over Q4 March 2013.

Ester Industries' net profit surged 258.8% to Rs 8.37 crore on 5.5% growth in net sales to Rs 919.01 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

Ester Industries is one of the leading producers of polyester films and engineering plastic compounds.