First Bonus Issue: IT Stock Hits 10% Upper Circuit After Recommending 17:20 Bonus Shares

Small cap IT Software sector stock Olatech Solutions Ltd witnessed a rally of 8.98% intraday on October 9 after the board of directors of the company recommended bonus shares in the proportion of 17:20. Current market price of Olatech Solutions share on BSE is Rs 185.00 apiece. Olatech Solutions shares witnessed a sharp surge of 86% in last 3-months and soared 130% in last 3-months. Check details pertaining to the stock and bonus issue below:

Olatech Solutions Recommends Bonus Shares: According to the BSE filing of the company dated October 7, 2023, it approved bonus ratio 17:20 i.e. 17 (Seventeen) Bonus Equity Share of Rs. 10/- each for every 20 (Twenty) fully paid-up equity shares of Rs. 10/- each held as on the record date.2 days ago." The Bonus issue is expected to be implemented within 2 months from the date of the Board Meeting i.e., by December 07, 2023.

Olatech Solutions Shares Performance & Return: Current market price of Olatech Solutions share on BSE is Rs 185.00 per share. Its 52-week high price is Rs 199.95 per share and 52-week low price is Rs 73.10 per share, respectively. The company has a market capitalisation of Rs 43.29 crore. Olatech Solutions shares gained 91% year-to-date and rose 95% in last 1-year.

Olatech Solutions About: Olatech Solutions is a certified, Public Limited company & registered with MSME & Govt. Of India's Startup India Initiative. Key offerings include software solutions such as NOC tools, Network monitoring, management & analytics, AAA solution for users & devices, data centre infrastructure management, ERP, CRM, digital marketing solution i.e. SEO, SEM, SMM, AdWords, web development, ORM, media buying etc. It has gained experience by collaborating with its clients across verticals such as Telcos, ISPs, Enterprises, Data Centre Service Providers & Public Sector.

Disclaimer

The stock just highlights the bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.