The shares of this leading IT solution provider touched the 2 percent upper circuit to reach the 52-week high price of Rs 81.55 per share after the company revised the record date for the bonus issue.
At 11:15 a.m., On Tuesday the company shares hit a 2 percent upper circuit, The company has a market capitalization of Rs 286 crore.
According to the company’s exchange filing, the company had fixed the record date for the bonus issue on Friday, December 15, 2023, however has subsequently altered the record date for bonus shares to Friday, December 22, 2023.
According to the corporate filing, the Alphalogic Techsys Ltd board recently announced the issuing of Bonus Equity Shares of the company in the proportion of 1:3 Equity Shares.
Due to awaiting principal clearance for the Bonus Issue and technical challenges, the business has rescheduled the date.
Alphalogic Techsys shares have delivered a return of 122 percent in the last year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 2.22 lakhs in a year.
The company’s revenue has increased by 200 percent yearly, from Rs 4.14 crore in Q2FY23 to Rs 12.51 crore in Q2FY24. In the same timeframe, Net profit has significantly increased by 240 percent from Rs 0.52 crore to Rs 1.80 crore.
As of the recent shareholding pattern, the company promoter holds a 6.87 percent stake in the company, while foreign institutional investors hold a 9.42 percent stake and retail investors hold an 83.7 percent stake.
Alphalogic Techsys Ltd provides technology-related services. The company is in the business of providing Information Technology and consulting services.
Alphalogic Industries is a subsidiary of M/s. Alphalogic Techsys Ltd. The company is engaged in the design, manufacturing, supply, and installation of industrial and institutional storage systems.
It manufactures Compactor Storage Systems, Cantilever Racks, Lockers, Heavy Duty Storage Racks, Metal Pallets and crates, Library Stacks, Mezzanine Floors, Book Case, Book Trolly, Book Support, etc.
Written by Omkar Chitnis
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