1750% rise in five years! Multibagger stock edges higher after promoters release entire stock pledge | Stock Market News
Source: Live Mint
Thangamayil Jewellery share price gained over 2% on Tuesday after the company informed about the release of promoter stake pledge. The multibagger small-cap stock, Thangamayil Jewellery shares rose as much as 2.33% to ₹2,054.35 apiece on the BSE.
Thangamayil Jewellery said that its promoters have released the pledge on the shares held by them and the entire promoters’ shares are free from encumbrances.
“We are pleased to inform you that pledge of shares of our promoters with the Banks has been completely released and the entire promoters shares are free from any encumbrances with immediate effect,” Thangamayil Jewellery said in a regulatory filing on March 28.
Thangamayil Jewellery’s promoters – Balarama Govinda Das, Ba.Ramesh and N.B.Kumar – have released the pledge on their shares entirely. The promoters’ shares were pledged for working capital finance, according to the company’s filing. The shares were pledged with Yes Bank.
The promoters of Thangamayil Jewellery held 1,68,13,189 shares of the company, representing 61.27% stake, at the end of December 2024 quarter. According to shareholding pattern of the company, the remaining 1,06,25,975 shares, or 38.73% stake, was held by public shareholders.
Thangamayil Jewellery Stock Price History
Thangamayil Jewellery share price has given stellar returns, outperforming the Indian stock market benchmark indices, Sensex and Nifty 50. Thangamayil Jewellery shares have gained 6% in one month, and 3.6% on a year-to-date (YTD) basis.
The small-cap stock has risen 59% in one year and has delivered multibagger returns of 315% in two years. Additionally, in the past five years, Thangamayil Jewellery shares have jumped by a whopping 1,750%. The multibagger stock has spiked more than 2,000% in ten years.
At 11:05 AM, Thangamayil Jewellery shares were trading 0.39% higher at ₹2,015.15 apiece on the BSE.
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