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

Multibagger chemical stock is one of the dividend paying stocks as well because it traded ex-dividend last month.

2 min read . Updated: 09 Sep 2022, 02:10 PM IST Asit Manohar

Multibagger chemical stock has been hitting upper circuit for last two straight sessions

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Bonus shares 2022: Jyoti Resin share price has been in uptrend ahead of issuance of bonus shares. The dividend paying stock has hit upper circuit today, which is its record date for bonus shares as well. The board of directors of Jyoti Resins and Adhesives Ltd had fixed record date for bonus shares issue on 9th September 2022. On Thursday, this chemical stock had traded ex-bonus and it had hit upper circuit on yesterday as well.

Jyoti Resins shares are one of the multibagger stocks that Indian stock market has produced in 2022. In year-to-date (YTD) time, this stock has risen from around ₹373 to ₹1528 apiece levels, ascending to the tune of near 300 per cent in this time. In last one year, this multibagger chemical stock has risen from around ₹280 to ₹1528 apiece levels, logging around 450 per cent rise in this period. In last five years, this multibagger stock has surged from around ₹26 to ₹1528 apiece levels, appreciating to the tune of 5,750 per cent in this period. While hitting the upper circuit today, this multibagger chemical stock has climbed to new life-time high of ₹1528.80 apiece on BSE.

While informing about bonus shares to Indian stock market exchanges, Jyoti Resins and Adhesives Ltd said, "We are submitting the revised intimation of record date of bonus shares, due to some clerical error in the previous intimation submitted. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the company has fixed Friday 09th September, 2022 as the Record Date for the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the company in the proportion of (Two) Equity Share of Rs.10/- each for every (One) Equity shares of Rs.10/- each."

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The chemical stock had traded ex-dividend last month as it had declared a dividend of ₹7.50 per equity share for its eligible shareholders. So, the stock is one of the dividend paying stocks on Dalal Street that is now going to issue bonus shares.

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