The small-cap czar increased his stake in plywood stock Duroply Industries. The company’s board on Wednesday approved a rights issue of 1,58,730 company shares worth nearly Rs 2 crore after offering preferred shares convertible into shares. The plywood maker company is offering 10,33,968 coupons at Rs 126. Shares of Duroply Industries rose on the news in early trading Thursday, up more than 6% from Wednesday’s close.

BSE-listed Porinju Veliyath portfolio shares opened higher today and continued to hit an intraday high of Rs 156.40 per share, up around 6.50% in today’s trade.

Porinju Veliyath shareholding:

Based on Duroply Industries Ltd’s holding pattern for the April-June 2022 quarter, Porinju Veliyath and his wife Litty Thomas remain confident in their shares in the first quarter of fiscal 2023 as their stake in the company remains unchanged. Porinju Veliyath holds 2,00,533 shares or 3.10% of the company’s shares, while his wife Litty Thomas owns 1,55,000 shares or 2.40% of the small-cap company’s total paid-up capital.

Along with 1,58,730 new shares, Porinju Veliyath’s stake in the small plywood company will soar to 3,59,263 shares or 5.55% of the company’s total paid-in capital. Accordingly, Porinju Veliyath increased his stake in the company by 2.45% of the company’s total paid-in capital by purchasing 1,58,730 shares. Now, Porinju Veliyath and his wife Litty Thomas jointly own 5,14,263 shares or 7.95% of the company.

As mentioned earlier, BSE-listed Duroply Industries Ltd is a small company with a market capitalisation of just Rs 97 crore. Its current volume of 14,720 is almost double the average of 6,141 over the past 20 days. As a result, the stock is very illiquid, and as we’ve seen today, it can be very volatile on a single trigger. Shares of small-cap Porinju Veliyath traded at a 52-week high of Rs 162, while its 52-week low was Rs 76. It returned 23% to shareholders this year and nearly 40% to equity investors last year.