PTC Industries Share Price Soars 6% on Fundraising Buzz, Hits New Highs | Multibagger Stock News

PTC Industries shares have been one of the standout performers in the Indian stock market in 2024. The stock price has surged from about ₹6,600 to ₹15,700 per share on the NSE, marking an impressive 135% increase this year. Today, PTC Industries’ share price opened with a significant gap and quickly reached an intraday high of ₹15,700, a 6.50% rise. The stock came close to its all-time high of ₹15,702.

Fundraising Announcement

The surge in PTC Industries’ stock price is due to news that the company will hold a board meeting to discuss raising funds by issuing new shares. The meeting is scheduled for Saturday, July 13, 2024, at 4:00 PM via video conference. The company is considering various methods for raising funds, including private placement, preferential issue, rights issue, and qualified institutions placement. The company will seek necessary approvals and will also consider convening an extraordinary general meeting to seek shareholder approval for the fundraising proposal.

Insider Trading Compliance

In line with SEBI regulations and the company’s Insider Trading Code, PTC Industries has closed the trading window for its securities from July 1, 2024, until 48 hours after the financial results for the quarter ended June 30, 2024, are declared.

Share Price History

PTC Industries shares have shown significant growth, making them one of the multibagger stocks in the Indian market. Over the past month, the share price has increased from around ₹11,710 to ₹15,700, a 30% rise. In the last six months, the price has climbed from ₹6,955 to ₹15,700, marking a 115% increase. Year-to-date, the share price has gone up by about 130%, and over the past year, it has delivered over 260% returns to investors.