A penny stock in the IT enabled services sector, Titan Intech extended its rally for three consecutive sessions. On May 14th, the stock touched yet another 5% upper circuit before slightly correcting but holding its bullish trend. The stock has rallied by nearly 16% in 3 days. The upbeat performance comes ahead of its 3:5 bonus shares record and allotment date.
Titan Intech Share Price:
This IT stock zoomed to hit 5% upper circuit of Rs 105.65 apiece on May 14 before trading at Rs 104.85 apiece up by 4.80% on Tuesday. The company's market cap is at Rs 121.10 crore.
Titan Intech has witnessed strong buying since May 10th, and since then it has climbed by at least 15.5%. The stock is currently flirting near its 52-week high of Rs 113 apiece, while gaining as much as 174% from its 52-week low of Rs 38.60 apiece.
YTD, Titan Intech shares are up by 74.25% on BSE. In a year, the stock rallied by 91%.
Titan Intech Bonus Share:
As per the latest update, Titan Intech said that Friday, 17th May 2024, is hereby declared as the revised record date for the purpose of ascertaining the eligibility of the shareholders entitled for Bonus Shares. Earlier, the record date was on May 14, 2024.
The company has announced 3:5 bonus shares. This means that the company will issue in the ratio of 3 (Three) new fully paid-up equity shares of Rs 10/- (Rupee Ten Only) each for every 5 (Five) fully paid-up Equity Share of Rs 10/- (Rupee Ten Only).
Titan Intech Bonus Allotment:
In another development, Titan Intech has also announced a meeting of Board of Directors of the Company is scheduled to be held on Tuesday, 21st May, 2024, inter alia, to consider and approve the allotment of Bonus Shares to the Equity Shareholders of the Company.
Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.
About Titan Intech:
Since 1984, Titan Intech embarked on a journey to digitally transform businesses. Its international solution architects, backed by years of experience and proven strategies, offer services that prioritize performance and scalability. Also, the company committed to delivering the highest quality and security for its clients' IT infrastructure and business data. Also, the company is foraying into setting up of state of art Data Centers in India.
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