Porinju Veliyath raises stake in small-cap plywood stock. Share rises 6%
Porinju Veliyath portfolio: Czar of small-cap stocks has raised his stake in plywood stock Duroply Industries. After offering preferential issues convertible to equity shares, the board of directors of the company on Wednesday approved allotment of 1,58,730 shares of the company worth to the tune of near ₹2 crore. The plywood maker company has offered 10,33,968 preferential issues at a price of ₹126 apiece. After the news became public, shares of Duroply Industries started ascending from the early morning session on Thursday and logged more than 6 per cent rise from its Wednesday’s close price.