1:1 Bonus Issue Twice: Multibagger Fintech Stock Zooms After Picking 20% Stake In XDuce

Mid cap financial technology Infibeam Avenues Ltd shares zoomed 8.96% intraday today to settle at Rs 36.74 apiece. Infibeam Avenues shares offered investors return of 67% year-to-date (YTD) and rallied 146% in last 6-months. Earlier this month on February 24, 2024, AI-powered fintech company, announced investment of USD 10 million for the acquisition of a 20% strategic stake in XDuce ("Company"), a renowned enterprise Application and AI development company based in the United States.

With headquarters in New Jersey USA, XDuce has a team of over 150 software developers in the US servicing some of the marquee Wallstreet and Insurance Clients in North America. The Company is renowned for its expertise in business application implementations, integration services, and business transformation. XDuce clientele includes industry titans such as Bank of America, Morgan Stanley, Capgemini, Hollingsworth & Vose, Deutsche Bank, BNP PARIBAS, Goldman Sachs, NYP, QBE, IEEE, FMCNA and many more.

Board of directors of Infibeam approved the equity acquisition in XDuce. It's a strategic move to integrate Infibeam Avenues Ltd's PhroneticAI capabilities into XDuce's existing framework as well as support platform and payments business growth in the US market.

Infibeam Avenues Shares Performance & Return: The 52-week high price of Infibeam Avenues shares on BSE is Rs 40.00 apiece and 52-week low price is Rs 12.85 apiece, respectively. The company has a market capitalisation of Rs 10,207.75 crore. Infibeam Avenues stock surged 80% in last 3-months, gained 133% in last 1-year, and offered gain of 88% in last 2-years. In last 5-years, the scrip zoomed 330%.

Infibeam Avenues Dividend & Bonus Shares History: Infibeam Avenues announced 6 dividends since February 26, 2018. In the last 12 months, Infibeam Avenues announced an equity dividend amounting to Re 0.05 per share. At the current share price of Rs 36.74 apiece, Infibeam Avenues's dividend yield is 0.14%.

Infibeam Avenues gave 2 bonuses since March 18, 2021. The last Bonus that Infibeam Avenues anoununced was in the ratio 1:1 with ex-bonus date fixed as March 14, 2022.

Infibeam Avenues Financials: The company for the quarter ended December 31, 2023 declared its consolidated total income at Rs 918.33 crore, up 15.86% as compared to last quarter total income of Rs 792.60 CRORE. Its net profit after tax was declared at Rs 41.76 crore in the recent quarter.

About: Infibeam Avenues Ltd. is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks. The core Payment Gateway (PG) business provides over 200 plus payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies.

Disclaimer:

The stock just highlights the rally in shares 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.