Shares of this multibagger stock under the micro-cap category hit 5 percent upper circuit on Friday after the company’s Board of Directors, in its meeting recently approved the issuance of Bonus equity shares as well as fundraising plans.
With a market capitalization of Rs 166.79 crores, the stocks of Arham Technologies Limited opened their trading hour on Friday at Rs 187.80 and currently are locked in the 5 percent upper circuit recorded at Rs 197.15 apiece.
Such bullish stock price movements were observed after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated regarding the outcome of the meeting of the company’s Board of Directors held on 14th March 2024.
The Board considered and approved the recommendation of issuance of fully paid-up Bonus shares in the ratio ‘1:1’, i.e., one equity share for every one fully paid-up equity share of Rs 10 each held, subject to the approval of the shareholders of the Company and appropriate authorities. The record date for the same is yet to be determined.
Moreover, the company’s Board, subject to the shareholder’s approval, also approved the raising of funds by way of Issuance of equity shares through further public offer (FPO) up to Rs 60 crores.
As per the recent half-yearly data, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, showed some flat movements in opposing directions.
The former, on one end, rose marginally from Rs 27.06 crores during the March 2023 quarter to Rs 27.08 crores during the September 2023 quarter, and the latter, during the same time horizon, slipped from Rs 2.27 crores to Rs 1.70 crores.
In the past year, the company’s stock delivered multibagger returns of approximately 240 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 3.40 lakhs.
Incorporated in 2013, Arham Technologies Limited is engaged in the business of manufacturing LED Smart Televisions with different screen sizes under the brand ‘Starshine’. The company also manufactures fans, air coolers, and mixer grinders through third-party manufacturers.
Written by Amit Madnani
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