Micro-cap Information technology services provider gains marginally after it announces acquisition of upto 100 percent stake in a foreign software firm for a consideration of USD 4.98 Million.
At 11:45 a.m the shares of Cambridge Technology Enterprises were trading at Rs. 70.70 up 0.78 percent from its previous day close price and the market capitalization of the company is 139 Cr.
As per the company’s filing, in partial modification of its earlier resolution dated June 23, 2023, on October 13, 2023 the board of Cambridge Technology Enterprises has approved revised acquisition strategy to acquire upto 100% stake in Appshark Software, Inc., USA, for a sum of USD 4.98 Million consisting of 10 lakh shares.
The company’s revenue increased by 2.53 percent from 109.47 Cr in FY22 to 112.2 Cr in FY23, accompanied by increasing profits of 8.81 Cr to 9.8 Cr.
The company reported a return on equity (ROE) of 12.52 percent and a return on capital employed (ROCE) of 11.98 percent, the company is making decent returns over its equity and capital employed, as it is struggling to increase its revenue from operations over the years.
Cambridge Technology Enterprises is a global technology services company, providing various IT services, from building entire infrastructure or platforms to solving complex IT challenges and it also helps businesses accelerate their digital transformation and become an AI-first business.
Written by: Bharath K.S
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.
