Small-cap stock under ₹50: Sigachi Industries share price gains despite promoter share pledge move

Small-cap stock under ₹50: Shares of Sigachi Industries gained on Tuesday, April, defying the weak stock market mood and reports of share pledge creation by a member belonging to the promoter group.

The BSE Smallcap stock opened at ₹35.14, in line with its previous close of ₹35.13, but soon extended gains to the day's high of 36.56, an upside of 4% over its previous closing price.

Despite the gains logged today, Sigachi Industries' share price traded 28% lower on a year-to-date (YTD) basis, highlighting the pressure in the pharmaceutical stocks amid fears of US President Donald Trump's tariff impact.

At 1 pm, Sigachi Industries' share price was trading 3.33% higher at ₹36.30 even as the BSE barometer Sensex traded 1,300 points or 1.73% lower at 76,072.

Additionally, a member of the promoter group shared details on the creation of the pledge, but that also did not dent the sentiment.

Promoter Pledge Details

According to an exchange filing on the BSE, dated April 1, Dharani Devi Chidambaranatham, promoter in the company, created a pledge on 9,10,000 shares of the company (representing 0.23% of the equity share capital) on March 25.

The shares were encumbered in favour of Suman Gandhi, with the share pledge created for personal use.

Prior to the creation of the share pledge, Dharani Devi held 74,36,250 shares, representing a 1.95% stake, of Sigachi Industries.

R&D Expansion

In February 2025, Sigachi Industries announced plans to enhance its research and development (R&D) capabilities by establishing a state-of-the-art R&D Center in Hyderabad, bringing its API developments and Analytical Efforts under one roof.

"This strategic initiative involves an investment of up to USD 1 Million and is set to commence immediately, reinforcing Sigachi's commitment to innovation and long-term growth and efficiency," the company said in an exchange filing.

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