Mukul Agrawal portfolio: Multibagger stock PTC Industries declares ₹700 crore fundraise move through QIP

Mukul Agrawal portfolio: PTC Industries' share price witnessed some upside movement in early morning deals, as the stock witnessed some buying after the declaration of ₹700 crore fundraising. PTC Industries share price today opened upside at ₹14,950 apiece on NSE and touched an intraday high of ₹14,990 per share within a few minutes of the stock market opening on Monday. However, the multibagger stock failed to sustain at higher levels and witnessed profit-booking pressure.

After the profit-booking trigger, PTC Industries shares retraced from its Monday's high and touched an intraday low of ₹14,400. The multibagger stock, which has delivered over 115 percent returns in one year, witnessed some bottom fishing at the lower levels and gained some of its lost ground.

PTC Industries news

On Friday last week, PTC Industries informed the Indian stock market exchanges about the fundraising move, saying, "We wish to inform you that the Board of Directors of the Company, at its meeting held on today i.e July 13, 2024 has inter alia approved the following matter: 1] Raising of funds, aggregating up to ₹ 700 Crores through Qualified Institutions Placement ("QIP”) in terms of Chapter VI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “ICDR Regulations”) and/or any other permissible mode(s), in accordance with the ICDR Regulations and other applicable regulations, through public and/or private offerings of equity shares and/or any other convertible securities, in one or more tranches and/or one or more issuances simultaneously, subject to necessary approvals including the approval of the members of the Company and such other regulatory/ statutory approvals as may be required. 2] Constitution of Fund Raising Committee, a committee of the Board of Directors of the Company for dealing with all matters pertaining to the Fund Raising. 3] Ancillary actions including the convening of shareholders’ meeting through the extraordinary general meeting to seek approval of the shareholders for the aforementioned issue."

PTC Industries share price history

As mentioned above, PTC Industries shares are one of the multibagger stocks of the Indian stock market. In one month, the share price of PTC Industries has ascended from around ₹13,854 to ₹45,500 apiece, recording around 5 percent appreciation in this period. In the last six months, the share price of PTC Industries has risen from Rs6,964 to ₹15,500 per share mark, logging more than 105 percent rise in this time horizon.

In YTD time, PTC Industries share price has appreciated around 120 percent, whereas, in one year, it has delivered over 260 percent return to its positional investors.

Mukul Agrawal shareholding

According to PTC Industries Ltd.'s shareholding pattern for the April to June 2024 quarter, ace Indian investor Mukul Agrawal owns 1.67 lakh PTC Industries shares, which is 1.16 percent of the company's total paid-up capital.

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