Duroply Industries locked in 10% upper circuit after Porinju Veliyath raises stake

Stocks

Duroply Industries has given a 48 percent return in April so far after losing 16 percent in the past two months

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Duroply Industries shares were locked in a 10 percent upper circuit on April 13, a day after ace investor Porinju Veliyath and wife Litty Thomas increased their shareholding in the company.

The stock hit the upper circuit in the afternoon trade, rising 10 percent to Rs 132.60 on the BSE, with around 37,000 shares changing hands.

On April 12, Veliyath and Thomas bought 7,000 shares in the plywood company, which has a market capitalisation of nearly Rs 86 crore, through open market transactions.

With this, their shareholding in the company has increased to 5.61 percent, up from 5.5 percent.

As of December 2021, Veliyath, who leads PMS Equity Intelligence India, owned 3.10 percent stake & Thomas 2.4 percent.

Duroply Industries shares have given a 48 percent return in April so far after losing 16 percent in the last two months.

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