On Thursday this stock hit 5% upper circuit after the company appointed Mr Abidali Neemuchwala as a Chairman.The company’s market capitalization is Rs. 2,009 Cr making it a small-cap company and the stock is trading 16.7% away from the 52-week high.
Axiscades Technologies Limited
According to the company filing, Axiscades Technologies Limited appointed Mr. Abidali Neemuchwala as Chairman and Non-Executive director. This decision was considered and approved during the Board of Directors meeting held on October 04, 2023.
About Mr. Abidali Neemuchwala
Mr. Neemuchwala started his journey with Tata Consultancy Services in 1992. He played a pivotal role in role in conceptualizing and scaling a new business, including the acquisition of Citi’s eServe captive, leading to the scale of TCS’s Digital operation business.
He joined Wipro in 2015 and was subsequently named CEO and Managing Director, with a responsibility to pivot the firm to its digital future. Wipro’s digital business increased to 40% of total sales during his tenure at a 35% CAGR.
The stock has delivered 200% returns in one year, therefore making an investment of 1 lakh one year ago now would be worth Rs. 3 lakhs.
As per the company filing, total revenues grew by 15.7% from Rs. 186.91 Cr in Q1 FY23 to Rs. 216.33 Cr in Q1 FY24 and the company reported a net profit of Rs. 5.7 Cr against a loss of 31.68 Cr.
As per the latest shareholding information, promoters hold 66.18% and public hold 33.74% stake in the company.
AXISCADES Technologies Ltd provides Engineering Design Services. It operating segments include Engineering Design Services and Strategic Technology Solutions. The company has subsidiaries in the United States, the United Kingdom, Canada, Germany, India, and China, as well as offices in Germany, France, Denmark, the United States, and Canada.
Written by Sheshadri N
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