Porinju Veliyath Raises Stake in Micro-Cap Portfolio Stock, Shares Jump 5%

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Porinju Veliyath Raises Stake in Micro-Cap Portfolio Stock, Shares Jump 5%
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the plywoods manufacturing company Duroply Industries (BO: DURL ) jumped 5% to Rs 182.5 apiece on Thursday, after ace investor Porinju Veliyath and his wife raised their shareholdings in the company.

The marquee investor and fund manager Porinju Veliyath and his wife Litty Thomas picked a total of 1.58 lakh additional equity shares of Duroply Industries, translating to a 2.12% stake in the company through preferential allotment.

This raised the investor duo’s shareholding in the micro-cap company to 7.01% from 4.89% earlier.

According to Duroply Industries’ latest shareholding pattern, the Kerala-based investor held over 2 lakh shares or a 3.1% stake in the company, while his wife owned a 2.4% stake or 1.55 lakh shares. In mid-July 2022, the duo further raised their holdings in the company.

Porinju Veliyath publicly holds 17 stocks with a net worth of over Rs 181.8 crore, as per Trendlyne data.

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