The shares of Axiscades Technologies Limited opened their trading hour today at Rs 475.75 and, since then, the scrip is locked in the 5 percent upper circuit. The locked price is recorded as the company’s fresh 52-week high mark. The stock has been hitting fresh high levels since the last three trading sessions.
Observing the stock price movements in the last one year, the stock has delivered multibagger returns of around 285 percent. It means that if someone would have invested Rs 1 Lakh into the stock, it would have converted to Rs 3.85 Lakhs within a period of one year.
Such sharp movements in the stock prices today are observed after Axiscades Technologies, through a regulatory filing with the exchange, informed that it has successfully completed the refinancing of existing debt which the company borrowed for the purpose of acquisition of ‘Mistral Solutions’. The amount of debt taken was Rs 210 crores.
As a result of the same, the company’s interest cost will be brought down by around 400 basis points, equating to 4 percent per annum.
‘Debt Refinancing’ is generally defined as a scenario where an existing debt is replaced by another debt that offers comparatively more favourable terms and conditions.
The company reported operating revenues of Rs 225 crores in the recent quarter. Moreover, the net profit numbers showed a positive movement with a transition from losses of Rs 10 crores during the December 2022 quarter to profits of Rs 16 crores during the March 2023 quarter.
As per the shareholding data available for the March 2023 quarter, the Promoters hold a 66.18 percent stake (28.09 percent pledged), and Foreign Institutional Investors (FIIs) hold a 0.08 percent stake in the company.
Axiscades Technologies Limited is involved in the business of providing ‘Engineering Design’ services. It serves various sectors, some of which include the automotive, defense, energy, etc. Geographically, the company derives a majority of its revenue from operations outside India.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
