Chemical Stock Sees Massive 20% Return in 5 Days; Hits Upper Circuit for 3rd Day

Mangalam Organics stock: After continuous stormy growth, the stock market is now seen in selling mode. One such stock is Mangalam Organics Ltd (NSE: MANORG). This stock owned by an investor hit an upper circuit of 5 percent. 

In this way, the share price has gone up to Rs 661.25. This is the third trading day that the company’s stock price has risen to the upper limit of 5 %.

Let us tell you that the stock has climbed about 20 percent in the last five trading days.

Reason For The Rise In Stock

The reason for the rise in the stock of Mangalam Organics Ltd is the increase in stake by the company’s promoter. 

Exchange data showed that the company’s promoter Kamalkumar Ramgopal Dujodwala bought 3.2 lakh shares, which is equivalent to about 4 percent stake in Mangalam Organics Ltd worth Rs 17.82 crore. 

The recent increase in stake by the promoter has increased investor confidence. Apart from this, despite the adverse conditions of the industry, the company has consistently released better results quarter-on-quarter in the last financial year.

The Investor’s Bet

The share price of Mangalam Organics Ltd was at a record low of around Rs 269 in March. The price of this stock has now increased three times. 

Let us tell you that the investor also has a bet on this stock. He has a 2.2 percent stake in this commodity chemicals company, which he bought in the June quarter of FY 2021.

Shareholding Pattern

Talking about the shareholding pattern of Mangalam Organics Ltd, the promoters hold 54.91 percent shares. Similarly, public shareholders hold 45.09 percent shares. 

Apart from the investor, the owner of VU company is among the public shareholders. They hold 4,20,900 shares or 4.91 percent stake.

Quick Fact

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