Share price of this IT stock hit a new 52-week high at Rs. 197.90 in the trading session of Wednesday, after the company board planned to hold a meeting to consider the approval of fundraising and the issue of Bonus Shares.
With a market capitalisation of Rs. 59.5 crores, at 02:30 p.m. the shares of Naapbooks Ltd. were trading in the green at Rs. 197.9, up by nearly 5%.
In the last one year, the company has delivered positive returns of about 152.91 percent and more than 141.3 percent of returns in the last six months. So far in 2024, it has given positive returns of around 104.02 percent.
According to recent regulatory filings with the BSE, the Board of Directors of Naapbooks Limited will discuss fund raising and the proposal for the issue of bonus shares on March 7th.
The fund will be raised through various means of Issuance of Shares or Share Warrants on preferential basis or through Rights Issue or debt instrument, in one or more tranches, for an amount not exceeding Rs. 25 crore.
In addition to the fund raising, the Board will review and evaluate the proposal for the issue of Bonus Shares.
Further, the Board of the company will also discuss to consider and explore opportunities to acquire business of or to merge with IT Companies, as well as about the increase in the Authorised share capital of the company.
In terms of financials, the company’s revenue from operations grew by 73.68 percent YoY from Rs. 1.14 crore in Q2 FY22-23 to Rs. 1.98 crore in Q2 FY23-24, accompanied by an increase in the net profit by 418.18 percent YoY, from Rs. 0.11 crore in Q2 FY22-23 to Rs. 0.57 crore in Q2 FY23-24.
Naapbooks Limited (NBL) is a software development company with expertise in technical, financial and business solutions.
Written by Shivani Singh
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