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Petrochem Stock Hits 52-Week High After 150% Dividend, Share Price Up 40% In 1 Month

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Panama Petrochem Ltd. is small-cap stock with a market capitalization of Rs. 2,457 crore. This month in its latest board meeting the company announced an interim dividend of Rs. 3, which is a 150% dividend for the shareholders. November 24 was the record date for the dividend. On that day, the stock's day high was quoted at Rs. 366.70 a piece, and today, on November 26, the stock rallied to Rs. 412.40 a piece, as a day-high.

 
Petrochem Stock Hits 52-Week High After 150% Dividend, Share Up 40% In 1 Month

The share price of the company hit a fresh 52-week high again today, gaining by around 13% in intra day trade. The current market price of the company stood at Rs. 402/share on NSE. Its fresh 52-week high level is Rs. 412.40, and the 52-week low level of this stock is Rs. 214.45.

In the last 1 month, the share of the stock gained by 39.51%. Its stock price gained by 61.93% in the last 6 months, while in the long term, in the last 5 years this stock has surged by 85%.

Panama Petrochem Ltd was established in 1982. With four manufacturing plants across India today, Panama Petrochem Ltd is one of the leading manufacturers and exporters of more than 80 variants of petroleum specialty products. The products are vital for various industries like inks and resins, textiles, rubber, pharmaceuticals, cosmetics, power, cables and other industrial purposes.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, brokerage firm, and the author are not liable for any losses caused as a result of decisions based on the article.

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