India, Oct. 13 -- Every time the government borrows money, someone has to make sure the bonds actually get sold. Primary dealers are the specialised firms that take that job on, bidding in auctions, underwriting issues and then trading the paper afterwards. They are the plumbing of the bond market, which makes their earnings a quiet mirror of how interest rates are moving. When rates swing hard, they can win big or lose big within the same quarter.

Shares of PNB Gilts Ltd. were trading at Rs. 76.06, up 7.57% from previous close of Rs. 70.71. The stock opened at Rs. 70.80 and reached an intraday high of Rs. 79.00 and low of Rs. 70.63. The company currently has a market capitalization of Rs. 1,364 crores.

What's the news PNB Gilts swung ...