Multibagger chemical stock hits upper circuit on record date of bonus shares

The fertilisers and agrochemical stock had hit upper circuit on its ex-bonus date on Tuesday. And the stock has hit 5 per cent upper circuit today as well in early morning deals. Madhya Bharat Agro products share today opened upside and hit 5 per cent upper circuit within few minutes few seconds of stock market’s opening bell today.

In one of its previous stock market exchanges communications, the NSE listed stock had informed about the bonus share issue citing, “We would like to inform you that Pursuant to regulation 42 of SEBI (Listing obligation and disclosure requirement) Regulation, 2015 company has fixed 19th October 2022 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) new fully paid-up equity shares of Rs. 10/- (Rupees Ten only) each for every 1 (One) fully paid-up existing equity share of Rs. 10/- (Rupees Ten only) each held, with the approval of shareholders which is being obtained vide ordinary resolution passed at 25th Annual General Meeting dated on 26th September 2022.”

The multibagger stock is one of the dividend paying stocks in 2022 as well. The chemical company has traded ex-dividend last month. As per the exchange communication of the company, “we would like to inform you that Pursuant to regulation of SEBI (Listing obligation and disclosure requirement) Regulation, 2015 company has fixed 19th September 2022 as the record date for the purpose of ascertaining the member eligible for e-voting at 25th Annual General Meeting and final dividend if declared, for the financial year ended March 31st 2022.”

As mentioned above, this dividend paying stock is one of the multibagger shares on Dalal Street. The stock has risen from around ₹90 to ₹505 inn last one year whereas in last 5 years, it has risen from ₹25 to ₹505, delivering near 1900 per cent in this period. similarly, in last six years, it has surged from near ₹15 to ₹505 apiece, delivering to the tune of 3250 per cent return to its shareholders.