1:3 Bonus Issue: Multibagger IT Stock Hits Unabated Upper Circuits, Net Soars 147%

Multibagger IT Software sector stock Alphalogic Techsys have been hitting back to back upper circuits since November 3, 2023. It also traded new 52-week high as well on November 9 and November 10. Earlier this week, board of directors of Alphalogic Techsys declared 1:3 bonus issue that implies shareholders will be eligible to receive 1 bonus share for every 3 shares held as on the record date. The Board has yet to determine the record date for bonus issue.

The last trading price of Alphalogic Techsys share today is Rs 69.62 per share after it traded new 52-week high and touched upper circuit. Alphalogic Techsys shares already gained 44% in last 1-month and soared 215% in last 2-years. Check details below:

Board of Alphalogic Techsys Declares 1:3 Bonus Share: According to the regulatory filing of the company declared on November 7, "Recommendation of issuance of fully paid-up Bonus Share in the ratio of 1:3 i.e, 1 (One) Equity Share for every 3 (Three) fully paid-up Equity Shares of Rs 05/- each held to the eligible members of the Company holding equity shares of the Company, including warrants holders holding 12,17,000 convertible warrants pending for conversion and convertible into 12,17,000 number of equity shares of Rs. 5/- each, subject to approval of the shareholders of the Company and appropriate authorities. The record date to determine entitlement of eligibility of shareholders for Bonus Shares will be intimated at a later date."

Alphalogic Techsys Stock Outlook & Return: Last trading price of Alphalogic Techsys share on BSE is Rs 69.62 per share with intraday gain of 1.99%. The stock's 52-week high price is Rs 69.62 per share and 52-week low price is Rs 25.03 per share, respectively. Its market capitalisation is Rs 244.66 crore. Alphalogic Techsys shares rose 85% YTD and soared 972% in last 3-years.

Alphalogic Techsys Quarterly Results: The company for the quarter ended September 30, 2023 declared its net sales at Rs 12.51 crore, up 202.21% as against Rs 4.14 crore in September 2022. It announced its quarterly net profit at Rs 1.30 crore in September 2023, up 147.37% as compared to Rs 0.52 crore declared in the corresponding period of last year. Alphalogic Techsys' EBITDA jumped to Rs 2.58 crore for the quarter under consideration, up 203.53% as against Rs 0.85 crore declared in September 2022. The company announced a surge of Rs 0.51 in its EPS for September 2023 from Rs 0.15 in September 2022.

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.