By Malvika Gurung
Investing.com -- Shares of the leading secondary lead smelter Pondy Oxides and Chemicals surged 5% to Rs 557 apiece while writing, defying the market’s mood as the equity benchmark indices Nifty50 and Sensex declined 0.57% each.
The stock rallied as the chemical company’s shares traded ex-bonus on Wednesday. It had fixed September 29 as the record date for determining shareholders eligible for the bonus issue of shares in the ratio of 1:1.
This means that eligible shareholders of the company will be given 1 fresh equity share for every 1 existing share they hold, without any additional cost.
The small-cap multibagger company’s shares have soared almost 155% in the past year and have skyrocketed over 400% in the past two.
Renowned investor Dolly Khanna holds a 3.91% stake or 2,27,252 equity shares of Pondy Oxides and Chemicals, as of June 30, 2022, as per the company’s latest shareholding pattern.
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