Back-to-back upper circuit: This Group A stock which jumped 131 per cent in a month has hit a fresh 52-week high!

The stock has been put in Additional Surveillance Measure (ASM) LT: Stage 1.

The shares of Forbes and Company Ltd are buzzing on the bourses today. Earlier today, in the pre-opening session, Forbes and Company Ltd surged 5 per cent to trade at Rs 963.6 apiece. With this rally in share price, the company was the top gainer in Group A.The company, which operates in multiple domains, has more than doubled its investors’ wealth in the last one month.  

During this time, the share price jumped from Rs 396.75 on July 25, 2022, to Rs 917.75 on August 22, 2022. An investment of Rs 1 lakh in the shares of this company one month ago would have turned to Rs 2.31 lakh today.

The shares of the company are witnessing heavy demand from buyers ahead of their ex-dividend date, which is tomorrow, August 24, 2022. The company has announced a dividend of Rs 65 per share, which is 650 per cent of the face value of Rs 10 per share.  

In today’s session alone, the company’s shares witnessed a spurt in trading volume of more than 1.28 times. For the last one month, the company’s shares have been continuously hitting new 52-week highs and touched the upper circuit multiple times.  

Owing to this, the stock has been put in Additional Surveillance Measure (ASM) LT: Stage 1.  

Looking at the recent developments, on August 13, the company’s Board approved a proposal to enter into a Joint Venture with Macsa ID for providing innovative laser marking and traceability solutions for the entire range of materials - metals and non-metals. 

On the same day, the company’s Board also approved a proposal to incorporate a wholly owned subsidiary to inter alia deal in current and new technologies in the existing range of businesses. 

As of 12.41 pm, the shares of Forbes and Company Ltd were trading at Rs 911.60 apiece. Today, the stock hit a fresh 52-week high of Rs 963.60. Its 52-week low stands at Rs 205.92.