Multibagger in news: Penny stock Vivanta hits the upper circuit; here’s why?

The share saw a spurt in volume of 2.89 times on BSE.

Shares of micro-cap penny stock operating in the construction sector, Vivanta Industries today hit the upper circuit when the stock price touched Rs 5.91 apiece. The company earlier on August 2 revised the record date for dividend and bonus shares. The new record date is September 5, 2023. The share saw a spurt in volume of 2.89 times on BSE.

Vivanta Industries Limited has seen its stock price appreciate significantly over the past few years. In the last 6 months, the stock price has increased by 150.42 per cent. In the YTD, the stock price has increased by 189.71 per cent. In the last 1 year, the stock price has increased by 247.65 per cent. In the last 2 years, the stock price has increased by 163.84 per cent. And in the last 3 years, the stock price has increased by a whopping 1870.00 per cent!

Vivanta Industries Limited's growth is attributed to its strong financial performance and expansion into new markets. As a well-established market player, the company has consistently grown revenue and profitability, while expanding into new markets. The impressive stock price appreciation is a key factor in its success.

Earlier, the company proposed a final dividend of 3 per cent of the face value of Rs 1 per share for the financial year ended March 31, 2023. The dividend was paid to shareholders whose names appear on the Register of Members or on records of NSDL or CDSL as beneficial owners as of the record date.

Today, the shares of this company surged 4.97 per cent to hit its upper circuit of Rs 5.91 up by 0.28 points. The share has a 52-week high and low of Rs 8.66 and 1.58 respectively. The share opened at Rs 5.79 and touched intraday highs and lows of Rs 5.91 and 5.70 respectively. The company has a market cap of Rs 59.10 crore.

Disclaimer: The article is for informational purposes only and not investment advice.