New Delhi, Aug. 26 -- A penny stock under Rs.5 has been on a spree of hitting its upper circuit and 52-week highs over the last few sessions. Despite weak market sentiment, NHC Foods jumped 5% to its upper circuit of Rs.2.05 in intraday deals on the BSE on Wednesday, 26 August. The stock has been rising for the last 15 consecutive sessions. Over this period, it has nearly doubled.

In an exchange filing after market hours on 25 August, NHC Foods said its board on 25 August approved an increase in existing authorised share capital from Rs.100 crore of Rs.1 each to Rs.2,000 crore of Rs.1 each.

Moreover, the board also approved the proposal for the issuance, offer and allotment of up to 25.60 crore convertible warrants on a preferential bas...