Kothari Products shares hit upper circuit of 20% today, here's why 

Stock of Kothari Products Ltd zoomed 20% on Friday after the firm said its board would meet on December 27 for considering bonus issue of shares. Kothari Products stock ended 20% higher at Rs 205.55 against the previous close of Rs  171.30 on BSE. Market cap of the firm rose to Rs 613.44 crore. 

Kothari Products shares have gained 55.66% in two years and risen 65% in a year. A total of 1.50 lakh shares of the firm changed hands, amounting to a turnover of Rs 3 crore on BSE. 

The stock hit a record high of Rs 227.35 on July 26, 2024 and a fell to 52-week low of Rs 111.15 on March 13, 2024. 

In terms of technicals, the relative strength index (RSI) of Kothari Products stands at 65.9, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.   

"With reference to the above & pursuant to Regulation 29 of the SEBI (LODR) Regulations, 2015 it is hereby to inform you that a meeting of the Board of Directors of the Company is being convened on December 27, 2024 for considering recommendation of bonus shares and Increase in Authorized Share Capital of the Company, subject to the approval by its members through Postal Ballot process in the said matter," said the firm.   

Kothari Products is engaged in the business of  real estate, investments and international trading of exports & imports.