100% Return in 6 Months: Penny Stock Under Rs 5 Hits 5% Upper Circuit On Business Update

90% Return in 3 Months: ACI Infocom Limited share price rallied nearly 5% to touch an upper circuit of Rs 2.58 per share. However, the penny stock failed to hold on to gains and declined nearly 3.5% in the second half of the trading session.

ACI Infocom share price was trading 3.66% lower at Rs 2.37 per share on BSE with a market capitalisation of Rs 26.19 crore at 2:51 pm on Tuesday, August 25. The stock had touched upper circuit of Rs 2.58 per share and an intraday low of Rs 2.34 per share.

ACI Infocom Business Update

The recent volatility in ACI Infocom share price has came as the firm is on track of transformation linked to aviation. The firm has proposed an acquisition in the field. The firm is currently engaged in IT products and services, but it aims to diversify into aviation, aerospace, and defence manufacturing. The revised object clauses of the agreement include approval to operate airline services, manage aviation academies, and manufacture drones, eVTOL aircraft and defence equipment.

According to the company's BSE filing, Sanjay Natvarlal Mandavia and Rupal Sanjay Mandavi are set "to acquire upto 3,70,47,634 (Three Crores Seventy Lakhs Forty Seven Thousand Six Hundred Thirty Four) Equity Shares constituting 26.00% of the Emerging Voting Share Capital (As defined in the Public Announcement and Detailed Public Statement) of the Target Company at a price of ₹ 1.53/- (Rupees One And Fifty Three Paise Only) for each equity share of the Target Company"

ACI Infocom Share Price Trend

The stock opened higher on Tuesday but erased most of its gains in the first half of the trading session. THe scrip touched its 52-week high mark of Rs 2.58 per share on Tuesday and its 52-week low mark of Rs 0.86 per share on February 16, 2025. The stock has a return on equity (ROE) of -10.66%. Its share price value has surged around 60% in one month and around 101% in six months.

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