Penny Stock Under Rs 1 Locked in the 5 Per Cent Upper Circuit on Monday as the Board to Discuss 50 Per Cent Dividend and UAE Expansion Plans
Upcoming board meeting to be held on May 6.
Shares of Sharanam Infraproject & Trading Ltd surged by 4.92 per cent today, hitting the upper circuit limit of Rs 0.64 and remaining locked there through the mid-session. The stock opened at Rs 0.64, matching its intraday high, with no movement observed afterwards, signalling strong bullish sentiment and restricted supply due to the price band.
Sharanam Infraproject & Trading Ltd has announced a forthcoming board meeting. In a communication dated April 16th, 2025, the company informed the Bombay Stock Exchange (BSE) Limited about the meeting. The Board of Directors of Sharanam Infraproject & Trading Ltd. is scheduled to convene on Monday, May 6th, 2025. During this meeting, the board will consider the recommendation or declaration of a dividend of up to 50 per cent on the equity shares of the company for the financial year that ended on March 31st, 2025.
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Any dividend declaration will be subject to shareholder approval, where applicable. Additionally, the board will explore and evaluate potential business expansion opportunities in Ras Al Khaimah and Dubai, in the United Arab Emirates (UAE). This expansion would involve a strategic entry into commercial real estate development projects, contingent upon due diligence and a favourable business feasibility report, aligning with the company's future growth and diversification strategy.
About company
Incorporated in 1992, Sharanam Infraproject and Trading Ltd is engaged in the trading of Real Estate Products. The company does business in real estate and, in particular purchase and sale of land and buildings and buying, selling, subletting, maintaining, allotting, leasing, and constructing blocks, flats, shops, godowns, and buildings to fix and collect rents. The company also supplies building materials on a retail basis.
Disclaimer: The article is for informational purposes only and not investment advice.