Rights Issue: Multibagger IT Stock Sets Record Date, Shares Rally 20% In 1-Week

IT Software sector company Adroit Infotech Ltd shares today hit 5.00% upper circuit after it fixed January 19, 2024 as the record date for rights issue. Last trading price of Adroit Infotech shares on BSE is Rs 28.87 apiece with intraday gain of 4.98%.

Adroit Infotech shares soared 25% in last 2-weeks and rose 40% in last 3-months. Check details below:

Adroit Infotech Fixes Record Date For Rights Issues, Shares Gain: As per the BSE filing of the company dated January 15, 2024, "This is in furtherance to our intimation on the Outcome of the meeting of the Board of Directors of the Company held on 09th May, 2023 where the issue of partly paid-up Equity Shares of the Company was approved by way of a rights issue for an amount of not exceeding Rs. 49.00 Crores (Rupees Forty-Nine Crores) in accordance with the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other applicable Laws."

Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, the Record date for the purpose of determining the shareholders who shall be eligible to apply for the Rights Issue, would be Friday, January 19, 2024, as decided by the Right Issue Committee in its meeting held today, i.e., Monday, January 15, 2024, added the BSE filing of the company.

Adroit Infotech Shares Performance & Return: The stock's 52-week high price is Rs 33.46 per share and 52-week low price is Rs 16.51 per share, respectively. The company has a market capitalisation of Rs 62.55 crore.

Adroit Infotech shares jumped 48% in last 6-months, rose 22% in last 1-year, gained 104% in last 2-years, and offered return of 162% in last 3-years.

Adroit Infotech Financials: The company for the quarter ended September 30, 2023 declared its net sales at Rs 1.61 crore, up 17.01% as against Rs 1.37 crore in the corresponding quarter of last year. It announced a decline of 25.05% in its net profit for the quarter under review at Rs 0.40 crore from Rs 0.53 crore in September 2022. The company declared its EBITDA at Rs 0.69 crore in September 2023, down 18.82% as compared to Rs 0.85 crore in the similar quarter of last year. Meanwhile, the EPS declined to Rs 0.19 in September 2023 from Rs 0.29 in September 2022.

Adroit Infotech About: Adroit is a Specialist SAP Consulting Company, with close to two decades of experience in helping organizations significantly reduce costs and improve effectiveness and efficiency through internal process improvements using SAP products and solutions, according to its LinkedIn page.

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