DCM Shriram up over 10%

DCM Shriram is currently trending among the top five gainers on the BSE; opening 1% lower at Rs.1106.95, it soon jumped up to Rs.1232.45, up10%. This is on the back of a huge surge in volumes at almost 1 crore shares changing hands v/s less than 3500 on a 2-week average.

The reason for this sudden interest? Apart from the overall change in market sentiments, the market is happy with the company’s Board which approved the establishment of a 12 TDP integrated compressed biogas plant at its Ajbapur unit, with an investment of up to Rs.131 crore. Such strategic investments can signal growth prospects, positively influencing stock performance.

Today is the day when the Board is meeting to consider and approve the declaration of an interim dividend for the fiscal year 2024-25. Anticipation of dividend payouts often boosts investor confidence, leading to a rise in stock prices.