{"id":139537,"date":"2024-11-25T15:40:12","date_gmt":"2024-11-25T10:10:12","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=139537"},"modified":"2024-11-25T16:26:17","modified_gmt":"2024-11-25T10:56:17","slug":"it-stock-jumps-15-after-announcing-stock-split-of-shares","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/it-stock-jumps-15-after-announcing-stock-split-of-shares\/","title":{"rendered":"IT stock jumps 15% after announcing stock split of shares"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3053720134\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>IT stock engaged in the business of providing IT-enabled services leveraging Cloud, Automation, and Data technologies jumped upto 15 percent in the day\u2019s trade upon declaring a stock split of equity shares of the company and receiving a work order worth Rs. 84.5 Lakhs.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1770299695\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Price Action&nbsp;<\/strong><\/h2><p>With a market capitalization of Rs. 405 Crores, the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stocks\/DEVIT\" target=\"_blank\" rel=\"noreferrer noopener\">Dev Information Technology Limited<\/a><\/strong> were trading at Rs. 179.25 per equity share, up 11.61 percent from its previous day\u2019s close price of Rs. 160.60.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>What Happened&nbsp;<\/strong><\/h2><p>The Board of Directors of Dev Information Technology Limited has considered and approved the split of equity shares of the company, where one equity share with a face value of Rs. 5 will be split into such number of shares having a face value of Rs. 2 as on the record date.&nbsp;<\/p><p>In Addition, Dev Information Technology Limited has received a new work order from Bhavnagar Municipal Corporation for the Annual Maintenance and New development Contract of the Online Property Tax System for a consideration of Rs. 84.5 Lakhs and it is to be executed within 3-4 years.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-372631005\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>About the Company&nbsp;<\/strong><\/h2><p>Dev Information Technology Limited is an IT-enabled Technology Solutions Provider that delivers Digital Transformation leveraging Cloud, Automation, and Data technologies.&nbsp;<\/p><p>It offers a comprehensive end-to-end range of services, including Cloud Services, Digital Transformation, Enterprise Applications, Managed IT Services, and Application Development. Its products comprise Talligence, an analytics platform, and ByteSigner, a digital signing solution. Financials &amp; Ratios.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financials and Ratios&nbsp;<\/strong><\/h2><p>Its revenue from operations grew by 28.59 percent from Rs. 27.95 Crores in Q2FY24 to Rs. 35.94 Crores in Q2FY25, accompanied by profits of Rs. 1.66 Crores to Rs. 8.11 Crores.&nbsp;<\/p><p>In terms of Return ratios, it has reported a return on equity (ROE) of 19.2 percent, and a return on capital employed (ROCE) of 22.8 percent. It has reported a debt-to-equity ratio of 0.38.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by: Bharath K.S<\/strong><\/p><\/blockquote><h2 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h2><div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on&nbsp;<a href=\"https:\/\/tradebrains.in\/\">tradebrains.in<\/a>&nbsp;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<\/strong>.<\/p><div class=\"trade-after-content\" id=\"trade-1892250197\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>IT stock engaged in the business of providing IT-enabled services leveraging Cloud, Automation, and Data technologies jumped upto 15 percent in the day\u2019s trade upon declaring a stock split of equity shares of the company and receiving a work order worth Rs. 84.5 Lakhs.&nbsp; Price Action&nbsp; With a market capitalization of Rs. 405 Crores, the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":119044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[20597,17433,17434,948,936],"class_list":["post-139537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-dev-information-technology","tag-dev-information-technology-latest-news","tag-dev-information-technology-new-rder","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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