Porinju Veliyath increases its stake in this multibagger stock. Share Hits Upper Circuit

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Portfolio of Porinju Veliyath: Investor and fund manager Ace Porinju Veliyath and his wife Litty Thomas have increased their stake in their multibagger portfolio Duroply Industries. The investor duo bought 7,000 Duroply shares or 0.11% stake in the plywood manufacturing company on the open market. After the new purchase of Duroply shares on the open market, the net shareholding of the small-cap czar and his wife rose to 5.61% of the company’s total paid-up capital. Once the news became public, Duroply stock price attracted wholesale buying and hit 10% of the upper circuit of 132.60 levels per share within minutes of the opening bell for trading today.

Duroply Industries’ shareholding plan for January to March 2022 is still awaited, but in his exchange communication, Porinju Veliyath and his wife Litty Thomas revealed that they had not purchased any new shares of the company during the quarter from January to March 2022. In this exchange communication, the two investors affirmed that before buying these 7,000 shares of Duroply, they together held 5.50% of the capital of the company (2,00,533 shares or 3.10% of the capital of Porinju Veliyath and 155,000 shares or 2.40 per cent by Litty Thomas). According to Duroply Industries’ shareholding pattern for the October to December 2021 quarter, the two together own 5.50% of the company’s share capital.

Duroply stock price history

Duroply stock price opened today with an upward gap and hit the upper circuit within minutes of the stock market opening. However, the stock has remained a cash cow for its shareholders over the past year. It is one of the multibagger stocks in 2021. Over the past year, it has gone from 45.80 to 132.60 levels each, appreciating by around 190% over this period.

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