PSL shares surged on Wednesday after the company sold two of its subsidiaries in the US via bankruptcy proceedings, according to media reports.

The company's two subsidiaries PSL USA and PSL North America, on June 30 had filed Chapter 11 proceeding before the bankruptcy Court of district of Delaware USA after reporting continuous losses.

Shares of the company gained Rs 1.75, or 9.86%, to trade at Rs 19.50. The total volume of shares traded was 433,996 at the BSE (1.26 p.m., Wednesday).

The scrip has touched an intra-day high of Rs 19.50 and low of Rs 17.50. The total volume of shares traded at the BSE is 433,996.