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Shares of Suumaya Industries hit upper circuit in Monday's early deals by surging 5% on the NSE at 289 apiece after the company informed that the company's board will consider the proposal of bonus issue of equity shares on February 21, 2022.

“This is to inform you that meeting of the Board of Directors of Suumaya Industries Limited will be held on Monday, February 21, 2022, to consider and discuss inter alia the following: a proposal for Issue of bonus shares on equity shares of the company, and a proposal for alteration in the capital clause (Increasing the authorized share capital) of the Memorandum of Association of the company," Suumaya Industries announced in an exchange filing.

Suumaya Industries shares have given multibagger return of over 105% in a year's period, from 140 apiece level to currently hovering over 289. Though, the stock is down 41% in the last six months and has declined nearly 3% in 2022 (year-to-date or YTD) so far.  

The company further informed that the trading window, which has already been remain closed from Saturday, 1st January 2022 for trading in securities of the company, shall be continued remain closed till 48 hours after completion of board meeting.

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