Home/ Markets / Stock Markets/  Multibagger Porinju Veliyath stock hits upper circuit after 40% dividend nod

Porinju Veliyath portfolio: Dividend paying stock Taneja Aerospace & Aviation Ltd shares are one of the multibagger stocks in 2021 as it has surged around 280 per cent in last one year. The multibagger stock today surged around 10 per cent and hit upper circuit at 129.70 per share levels. The BSE-listed company announced 40 per cent interim dividend on Saturday for FY20021-22. The Board of Directors of the company proposed and approved interim dividend announcing the record date for dividend payment as well. 21st May 2022 has been fixed for record date of dividend payment.

In last two sessions post-dividend announcement, this multibagger stock has shot up from 109.40 to 129.70 apiece levels, logging around 18.50 per cent appreciation in these two days. The multibagger stock opened upside today and ascended to 129.70 levels. Meanwhile, in intraday trade, the stock made its low of 120 as well.

In its latest communication with the Indian exchanges, Taneja Aerospace & Aviation Ltd informed about the interim dividend approval citing, "Pursuant to the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (Listing Regulations), please be informed that the Board of Directors at its meeting held today i.e., Saturday, May 14, 2022 have inter alia, considered and approved the declaration of 2nd Interim Dividend of Rs. 2 /- (40%) per Equity Share of Rs. 5/- each for the FY 2021-22. Pursuant to Regulation 42 of the Listing Regulations, the record date, i.e., May 21, 2022, for the purpose of payment of the Interim Dividend has been already intimated to the Exchange vide our earlier letter dt. May 11, 2022. The Interim Dividend will be paid / dispatched to the shareholders on or before June 13, 2022."

Porinju Veliyath shareholding in Taneja Aerospace & Aviation Ltd

As per shareholding pattern of Taneja Aerospace & Aviation Ltd for January to March 2022 quarter, Porinju Veliyath holds 3 lakh company shares or 1.20 per cent stake in the company.

Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Updated: 17 May 2022, 12:35 PM IST
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