Share price of this small-cap stock and a leading business services company, jumped by nearly 7.77% to Rs. 413.3 in the morning trading session of March 1st, compared to its previous close of Rs. 383.5, after the company announced that its CEO has increased his sake in the company.
With a market capitalisation of Rs. 6,298.14 crores, at 11:58 a.m. the shares of CMS Info Systems Ltd. were trading in the green at Rs. 401.55, up by 4.71 percent.
In the last one year, the company has delivered positive returns of about 42.60 percent and nearly 12.8 percent of returns in the last six months. So far in 2024, it has given positive returns of more than 5.1 percent.
According to recent regulatory filings with the stock exchanges, CMS Info Systems yesterday announced that Rajiv Kaul, Executive Vice Chairman, Whole Time Director and CEO had increased his stake in the company.
Fluctuations in the share prices of the company were observed after the CEO raised his stake in CMS Info Systems to 6.2 percent from 2.62 percent which is an increase of 3.58%.
On February 27th, an affiliate of Hong Kong-based Baring Private Equity Asia, Sion Investment, sold its remaining holding of around 4.17 crore of equity shares, representing nearly 26.68 percent stake, at an average price of Rs. 370.38 and exited CMS Info Systems.
In terms of financials, the revenue from operations of the company grew by nearly 7.4 percent QoQ from Rs. 487 crore in Q2 FY23-24 to Rs. 523 crore in Q3 FY23-24.
The net profit of the company also increased by around 35.21 percent QoQ, from Rs. 71 crore in Q2 FY23-24 to Rs. 96 crore in Q3 FY23-24.
CMS Info Systems is a leading business services company in India, offering logistics and technology solutions to banks, financial institutions, organized retail, and e-commerce companies.
The company is India’s largest cash management company in terms of ATM points and retail pick-up points, as well as one of the world’s largest ATM cash management companies, with a presence in Cash Logistics, ATM Managed Services and Technology Solutions.
Written by Shivani Singh
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.
