Printcare soars on boost for shareholders

Thursday, 21 April 2011 00:59 - - {{hitsCtrl.values.hits}}

Printcare soars on boost for shareholders

Last week Printcare share price rose by RS.7.80 to Rs. 141.50 and as per yesterday’s close, it had gained by Rs. 121 or 85.5%.

Share price of Printcare Plc yesterday shot up to an all time high of Rs. 274.60 on positive news for shareholders and investors.

The Company announced a 01 to 05 Subdivision of its shares (Subject to Approval), consequently, increasing its number of shares from 17.2 million to 86.0 million. It also declared a final dividend of Rs.2.50 per share for 2010/11 financial year.

On a volume of 89,500 shares, the price peaked to Rs. 274.60 before closing at Rs. 262.50, up by Rs. 79.40. Last week Printcare share price rose by Rs.7.80 to Rs. 141.50 and as per yesterday’s close, it had gained by Rs. 121 or 85.5%.

Another all time high stock Huejay joins the price band

As per yesterday’s peak of Rs. 275, the gain from last week was 88% or Rs. 125.80.

The cruel fate of stocks hitting all time high and landing in the price band is growing as Huejay Investments joined as the latest victim.

The illiquid stock yesterday shot up by Rs. 85.90 to an all time high of Rs. 275 before closing also at a record high of Rs. 265.10, up by Rs. 76. Last week Huejay gained by Rs. 36.20 to close at Rs. 149.20. As per yesterday’s peak, the gain was 88% or Rs. 125.80. Its previous all time high was Rs. 165.

As per the directive of the Securities and Exchange Commission (SEC) the 10% price band on Huejay Investments will be effective from 21 April 2011 to 6 May 2011 (both days inclusive).