This multibagger penny stock is likely to declare a dividend of 165 per cent of its stock price; the stock is locked in the upper circuit today!

The stock gave multibagger returns of 374.89 per cent in just 1 year, and 8,000 per cent in 3 years.

Gujarat Toolroom Ltd plans to declare a dividend to its shareholders in the range of 100 per cent to 165 per cent of the current share price. The board of directors will meet on April 8, 2024, to approve the proposal. The company cited strong financial performance and prudent financial management as reasons for the potential high dividend payout.

Earlier, On March 21, 2024, Gujarat Toolroom Ltd announced that its subsidiary, GTL Gems DMCC, has exceeded expectations by achieving exceptional results within three months from December 1st to March 1st. Despite challenging market conditions, GTL Gems DMCC has demonstrated outstanding performance, reporting a turnover of USD 24,464,521 (Rs 202,81,17,353) and a net profit of USD 3,361,425 (Rs 27,86,63,309).

Gujarat Toolroom Ltd. manufactures syringe moulding and manufacturing of moulds. The Company specializes in moulds for medical disposables, pharmaceutical, food, and beverage packaging, caps, and closures, and writing instruments.

Gujarat Toolroom Ltd trading at Rs 44.6, by locking in a 4.99 per cent upper circuit, increase from the previous close of Rs 42.52. The day opened at Rs 44.64, with the high and low staying within a narrow range of Rs 44.64 and Rs 44.55 respectively.

Despite today's gains, the stock still trades below its 52-week high of Rs 62.97, but significantly higher than its 52-week low of Rs 8.92. In the last two trading sessions, the stock has been hitting back-to-back lower circuits.

The stock gave multibagger returns of 374.89 per cent in just 1 year, and 8,000 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.