IT Stock To Declare 1st Ever Bonus Shares On Friday, 26th July; Buy For TP Rs. 375-485 With Stop-Loss At Rs 28

With a market valuation of less than Rs 100 Cr, Acceleratebs India is a small-cap IT firm. This technology firm was established in the spring of 2012 and is situated in India. Its primary goal is to offer its clients digital services. Global businesses can get assistance from AccelerateBSi in their digital transformation journey. The Board of Directors will announce the first-ever bonus shares for shareholders tomorrow, July 26, thus the IT stock will be in the spotlight.

Acceleratebs India Upcoming Bonus Shares

"Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we would like to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, July 26, 2024 at 2:00 p.m. at the registered office of the Company, inter alia to consider, approve and recommend the proposal to issue Bonus Equity Shares of the Company," said Acceleratebs India in a stock exchange filing.

Acceleratebs India Financials

In FY24, the company reported a net revenue of Rs 6.81 Cr compared to Rs 2.86 Cr in FY23 while its net expenses reached Rs 5.05 Cr in FY24 which was Rs 2.22 Cr in FY23. The company reported a net profit of Rs 0.03 Cr in FY24 as against Rs 0.39 Cr in FY23. The company's 3 year CAGR of 14.51% was surpassed by its 138.1% yearly sales growth.

Acceleratebs India Share Price Target

"AccelerateBS India Limited is currently trading at a price of Rs. 347. While the stock's price momentum has piqued the interest of some traders and investors, I suggest limiting their exposure to this micro-cap stock with a market capitalization of only Rs. 72 crores. Those interested can consider entering the buying range of Rs. 310-330 for a target price of Rs. 375-485. They may hold this stock for 5-10 weeks but I urge them to stick to a stop loss of Rs. 280 to limit exposure to associated risks," recommended V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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