Small-Cap Stock Hits 5% LC on Ex-Dividend Day, Rallies 145% in 1 Year

Published 19-12-2022, 12:00 pm
© Reuters.
NARM
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By Malvika Gurung

Investing.com -- Shares of the specialty chemical company Narmada Gelatines (BO:NARM) hit a 5% lower circuit at Rs 442.85 apiece after eight consecutive sessions of hitting a 5% or 10% upper circuit on Monday.

The small-cap company’s shares are already under focus as they began trading ex-dividend on Monday. 

It had announced a Special Interim Dividend of 1,000% at a board meeting held on Dec 7, as its board of directors declared a dividend of Rs 100/equity share of the face value of Rs. 10 apiece fully paid up, for the financial year 2022-23.

The record date for the determination of members entitled to the Special Interim Dividend for FY23 was revised and set as Monday, Dec 19.

The dividend of 1,000% will be paid to eligible shareholders of the company within 30 days from the date of declaration, it said to the BSE.

Narmada Gelatines is a multibagger stock as its shares have rallied almost 145% in a year. The small-cap stock has consecutively hit upper circuits from Dec 7-16 despite bearish sentiments in the domestic market during the period.

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