1:1 Bonus Shares: 27th June - Record Date; Are You A Potential Buyer To Be Eligible?

Aurionpro Solutions Limited is a cutting-edge technology solutions provider for the government, banking, mobility, and payments sectors. The shares of Aurionpro Solutions closed 1.60% higher at Rs 2,702.50 a share on Friday, June 14, after the Board of Directors' declaration of the record date for 1:1 bonus shares. Let's find out whether you are a prospective buyer to qualify for the free shares.

Aurionpro Solutions Bonus Shares Record Date

"We wish to inform the Exchange that the Executive Committee ("the Committee") of the Board of Directors ("the Board") of the Company at its Meeting held on Friday, 14th June, 2024 has fixed the Record Date as Thursday, 27th June, 2024. The said Record Date is fixed for the purpose of issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Shares of Rs. 10/each for every 1 (one) existing Equity Share of Rs. 10/- each to the Equity Shareholders whose names appear in the Register of Members/Beneficial Owners of the Company/Depositories as on the Record Date," said Aurionpro Solutions in a regulatory filing.

Aurionpro Solutions Upcoming Dividend

The Board of Directors recommended a dividend of Rs 2.5 per equity share with a face value of Rs 10/-for the year ending March 31, 2024, at its meeting on May 14, 2024 subject to the approval of shareholders in the upcoming Annual General Meeting of the company.

Aurionpro Solutions FY24 Result Updates

The company's revenue from operations for the quarter that ended on March 31, 2024, was Rs 246.87 Cr, up 29% YoY from Rs 191 Cr in Q4FY23. For the whole fiscal year, revenue was Rs 887.47 Cr, up 35% YoY from Rs 659 Cr in FY23. EBITDA jumped by 30% to Rs 52 Cr in Q4FY24 from Rs 40 Cr in Q4FY23. For the entire year, EBITDA improved to Rs 193 Cr in FY24 from Rs 145 Cr in FY23.

FY24 PAT climbed by 40% YoY to Rs 142.93 Cr from Rs 102 Cr in FY23. PAT margins were 16.10% for the entire financial year. At Rs 39.46 Cr, PAT for Q4FY24 represented a 48% YoY rise from Rs 27 Cr in Q4FY23. PAT margins were 15.99% during the quarter.

Aurionpro Solutions Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "AURIONPRO is currently trading around 2693.5, having recently bounced back from support near 1950, close to its 200-day EMA. This indicates the stock's ability to maintain stability at these levels. There's a minor hurdle at 2800, near its previous peak levels, which could act as resistance. A breakthrough above this point might trigger further gains towards the target of Rs 3000 and potentially higher. The Relative Strength Index (RSI) stands at 68.30, suggesting moderate strength without reaching overbought conditions. This leaves room for potential momentum building in the stock."

"Overall, AURIONPRO trend is seen as sideways to bullish, supported by various technical indicators, reinforcing a positive sentiment. To capitalize on potential price retracements, it could be wise to consider buying on declines, particularly around Rs 2323. Implementing a stop-loss at Rs 1950 is advisable to manage risks effectively, safeguarding investments against unexpected market shifts. In conclusion, AURIONPRO shows promise with its technical setup pointing towards potential upward movement, contingent on clearing resistance levels and maintaining positive momentum. Traders should monitor key levels closely and manage risk prudently," the analyst recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.