The small-cap stock rose 3.3 percent to an intraday high of Rs 264 from its previous close on Tuesday after the company announced a 3 crore equity share acquisition.
According to the Black Box filing, Equinox Realty Holdings Limited has acquired 3 crore equity shares, or 18.36 percent of total shares, each of Black Box Limited from Essar Steel Metal Trading Limited by way of off-market purchase at a price of Rs 260 per equity share on November 23, 2023.
The acquisition of Black Box Limited shares is being proposed through an Interse transfer between entities within the promoter group.
The company has reported its net revenue increased by 0.7 percent year on year from Rs 1,562 crores in Q2FY23 to Rs 1,574 crores in Q2FY24. On a sequential basis, their revenue increased 0.1 percent from Rs 1,571 crore in Q1FY24 to current levels.
In addition, the company’s net profit rose by 241 percent year on year, from a net loss of Rs 22.6 crores in Q2FY23 to Rs 31.96 crores in Q2FY24. On a quarter-on-quarter basis, their revenue rose 33 percent from Rs 23.94 crore in Q1FY24 to current levels.
The company’s promoters hold a 71.14 percent stake in the company, with 4.92 percent owned by foreign institutional investors, 23.80 percent owned by the general public, and 0.14 percent owned by domestic institutional investors.
Black Box Limited is a small-cap company with a market capitalization of Rs 4,290 crores. The share price of Black Box Ltd has increased by 78 percent in the last six months and 94 percent in the year to date.
Black Box is a reputable IT solutions provider that offers businesses around the world cutting-edge technology solutions and world-class consulting services. Through the integration of people, ideas, and technology to tackle real-world business challenges, vast experience, and worldwide presence, we expedite client success.
Written by Sriram KV
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.
