14:48 Bonus Issue: Below Rs 270, IT Stock Hits Back-To-Back 5% Lower Circuits; To Pay 14 Shares For FREE

Alphalogic Techsys, a smallcap computer and software consulting company, touched back-to-back 5% lower circuits for two days straight. It means there were several sellers but no buyers in this smallcap stock from June 18-19. On Wednesday, the stock is below Rs 270. This comes ahead of its massive bonus issue of a 14:48 ratio.

Alphalogic share price ended at Rs 266.25 apiece on BSE after market hours of Wednesday, which was also its 5% lower circuits. The stock also touched a 5% lower circuit of Rs 280.25 apiece on the previous day. In five trading, the stock is down by 13.5%.

However, despite the latest drop, Alphalogic is among the best performing smallcaps in 2024 so far. YTD, the stock skyrocketed by 294%, while in six months, the stock rallied by 303%.

Alphalogic Techsys Bonus Issue:

The company has recommended the issuance of bonus shares in the ratio of 14:48. This means that the company will issue 14 shares for free on the existing 48 shares. The face value is Rs 05 each. The record date to determine eligible shareholders for receiving bonus shares will be announced in due course.

Alphalogic is a global technology solutions company headquartered in the Washington, DC metropolitan area. Alphalogic offers a wide range of technology and consulting services; predictive analytics, data warehousing & BI, cloud consulting, web & mobile application development.

The company's core competencies are cloud and mobile computing; healthcare solutions and services; data warehousing-analytics-- business intelligence; and enterprise collaboration-content management. Alphalogic specializes in the effective use of industry-standard frameworks such as Agile, for helping our clients achieve quick wins and reduce cycle times.