Share price of this micro-cap stock hit 1.88 percent upper circuit to Rs. 18.95 on NSE in the morning trading session of Wednesday, compared to its previous closing price of Rs. 18.6, after the company’s Board approved fund raise via rights issue.
With a market capitalisation of Rs. 573 crores, Bartronics India Limited has delivered about 198.4 percent of multibagger returns in the last one year and nearly 69.2 percent of returns in the last six months. So far in 2024, it has given positive returns of around 9.5 percent.
According to recent regulatory filings with the stock exchanges, the Rights Issue Committee of the Board at its meeting held on Tuesday has approved the Draft Letter of Offer in relation to the proposed Rights Issue of the company.
The Board approved the offer and issuance of fully paid-up equity shares of the company for an amount not exceeding Rs. 49.9 crores, by way of rights issue to the eligible equity shareholders of the company.
In terms of financials, the company’s revenue from operations fell by about 20 percent YoY, from Rs. 65 crore in FY21-22 to Rs. 52 crore in FY22-23. However, the company’s other income for FY22–23 includes Rs. 460 crore.
As of December 2023, DIIs hold 9.77 percent of the shares in the company, whereas the Promoters’ holding has remained unchanged at 90 percent.
Bartronics India Limited is an Information Technology (IT) services and business solution that provides advanced technology solutions to enterprises.
The company offers Automatic Identification and Data Capture (AIDC) Solutions in addition to application development, application management, enterprise solutions, IT infrastructure management and strategic sourcing.
Written by Shivani Singh
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