Shares of smallcap pharmaceutical company Sigachi Industries have gained close to 40 percent in the last four sessions amid heavy trading volumes.
The stock rose 36.89 percent during this period and on Friday was trading 15.44 percent higher at Rs 43.52 apiece on the NSE.
The rally comes ahead of the company’s dividend record date on September 16. Sigachi has fixed the date for determining eligibility for dividend, the company said in a filing on September 4.
At its annual general meeting on September 1, the Hyderabad-based firm’s board recommended a dividend of 10 percent, or Rs 0.10 per equity share, for FY 2024-25.
In Friday’s trade, 2.56 crore shares of the company changed hands, generating a turnover of Rs 107.76 crore. On the NSE, volumes stood at 15.72 crore shares.
Sigachi Industries, part of the BSE SmallCap index, has a market capitalisation of Rs 1,656.48 crore, according to the BSE website.
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