The shares of Analytics and cloud application service provider with a market capitalization of Rs 614 crore touched upper circuit 5 percent for Rs 595.10 apiece at 9:40 am after company board set record date for bonus issuance.
NINtec Systems Ltd shares were trading at Rs 595.10 at 1:33 in the afternoon, up 5 percent on the National Stock Exchange.
According to the company’s BSE report,On June 19,2023, the board of directors approved the Bonus Issue of Equity Shares in a 4:5 ratio, which means the company would issue four bonus shares for every five shares owned by existing shareholders.The Company has set August 3, 2023 as the Record Date for determining the Company’s list of shareholders eligible for bonus equity share issuance.
The company’s stock has earned returns of 136 percent in six months and 634 percent over a year. A shareholder’s investment of Rs. 1 lakh in the business would be worth Rs. 7.34 lakhs after a year and Rs. 2.36 lakhs after a half-year.
NINtec Systems Ltd provides software development services and solutions. The company offers corporate analytics, cloud computing, application engineering, and testing services.
NINtec Systems revenue climbed 68 percent from Rs 19 crore in FY 21–22 to Rs 32 crore in FY 22–23. Within the same time frame, net profit increased by 150 percent, from Rs 2 crore to Rs 5 crore.
The company margin ratios have improved, with operating margin growing from 18.61 percent to 22.87 percent and net profit rising from 13.99 percent to 17.18 percent.
As per latest shareholding pattern,The promoters own 47.24 percent of the company, while retail investors possess 52.76 percent.
Written by Omkar Chitnis
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