There is a rush to buy shares of Sundar Limited, a company in the textile sector.
On Thursday, the fourth business day of the week,
this stock hit an upper circuit of 5%, bringing the share price to Rs 1.79.
This marks the fifth consecutive business day that the stock has hit an upper circuit.
Why the Stock is Rising
The Board of Directors of Sundar Limited is considering issuing bonus shares and dividends to its shareholders soon.
Recently, the company informed the stock exchange that the proposal for bonus shares and dividend payment will be discussed in the upcoming board meeting on August 12, 2024, and is likely to be approved.
Stock Giving Multibagger Returns
Sundar Limited is one of those multibagger stocks that has doubled its shareholders’ money in a year.
In a month, this small-cap penny stock has increased from ₹1.39 to ₹1.79 per share, showing a return of about 25%.
In the last six months, the stock has increased from ₹1.35 to ₹1.79 per share, registering an increase of about 35%.
Over a year, the stock has risen from ₹0.90 to ₹1.79 per share, showing a return of almost 100%. The 52-week high of this stock is ₹1.79, while the 52-week low is ₹0.74.
Shareholding Pattern
Regarding the shareholding pattern of Sundar Limited, the promoters hold a 0.13% stake, while public shareholders hold 99.87%.
Promoter Alok Kumar Das owns 6 lakh shares. Global Capital Markets and Visagar Financial are among the public shareholders, with Visagar holding a 12.76% stake in the company.
