One artificial intelligence stock is going to split in the ratio of 1:2 next week. This is neither the world's largest AI stock, Nvidia but an Indian company engaged in the field of AI technologies and trades as a penny stock. It is Shradha AI Technologies Ltd. This company has witnessed massive buying for five consecutive sessions, hitting back-to-back upper circuits, and giving a whopping 31% returns in these days. During next week's trading session, the stock will be in focus.
Shradha AI Technologies Ltd Share Price:
Last week, on Friday, Shradha AI stock ended at its 10% upper circuit of Rs 119.70 apiece on BSE with a market cap of Rs 291.84 crore, making it a penny stock. The latest price level is also the stock's new 52-week high. The stock has nearly tripled from its 52-week low of Rs 46.20 apiece.
On BSE, the stock has touched back-to-back upper circuits from the December 2-6 session. Notably, from December 2-5, its upper circuit limit was 5%, which further increased to 10% upper circuit limit amidst its strong surge. In these 5 sessions, the stock skyrocketed by 30.82% on BSE.
Notably, the stock has been on a winning streak since November 28. Compared to its price level of Rs 87.75 apiece recorded on November 27, also the last seen red mark, Shradha AI share has zoomed by 36.4%.
YTD, the stock is up by 96.58%. In a year, the stock rallied by 128% on the BSE.
Shradha AI Technologies Ltd Stock Split:
The company's latest stock split is of a 1:2 ratio. The company has fixed Tuesday, December 10, 2024, as the record date for determining the eligibility of Shareholders for subdivision /split of existing Equity Shares of face value of Rs.5/- (Five) each fully paid up into such number of Equity Shares having face value of Rs. 2/- (Rupees Two only) each fully paid-up.
This will be the company's second stock split in less than 13 months. The first stock split was of 1:2 ratio, where its face value of Rs 10 each was trimmed to Rs 5 each with effect from September 26, 2023.
Since its first stock split, the company has delivered two dividends for FY24. First is the interim dividend of Rs 0.50 per share (ex-date on November 17, 2023), and the final dividend of Rs 0.75 apiece for which the ex-date was on July 5, 2024.
Attractive To Buy Still?
According to Markets Mojo, Shradha AI Technologies, a microcap company in the trading industry, has been gaining attention in the stock market with its recent impressive performance. Its stock price reached an all-time high of Rs. 119.7 on December 8th, 2024, outperforming its sector by 9.21% and showing a 36.02% increase in the past 7 days. The company's consistent growth and positive outlook make it a promising investment opportunity.
According to MarketsMOJO, a leading stock market analysis platform, Shradha AI Technologies' stock is a 'Buy' call.
On December 7, in its filing, Shradha AI announced that it has completed its contractual obligations/conditions i.e. subscription to the Memorandum of Association of Moodscope AI Private Limited, i.e. 51,000 (Fifty One Thousand) equity shares/percentage of control acquired [51%] of Moodscope AI.
Accordingly, Moodscope AI becomes a subsidiary of Shradha AI.
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