17:20 Bonus Shares: Multibagger IT Stock Gives New Update, Hits 5% Lower Circuit

Small cap IT Software sector company Olatech Solutions Ltd on November 25 said the Company has received Listing Approval vide letter dated 24th November, 2023 from Stock Exchange i.e. BSE Ltd for issue of Bonus Shares.

Last trading price of Olatech Solutions share is Rs 149.55 per share with intraday fall of 4.99% as on November 24, 2023. Olatech Solutions shares offered return of 186% year-to-date. In last 3-months, Olatech Solutions stock soared 116%. The record date for the bonus issue was November 20, 2023. Check details below:

Olatech Solutions Receives Approval For Bonus Share: As per the BSE filing of the company declared as on November 25, 2023, "We acknowledge receipt of company letter together with the Listing Application for listing of Equity shares and would advise that the Exchange is pleased to grant In-principle approval for the listing of 19,89,000 Bonus Equity shares to be dealt on this Exchange."

Olatech Solutions Traded Ex-Bonus: The stock traded ex-bonus on November 20, 2023. The BSE issued earlier stated, "We further wish to inform that the Board of Directors of the Company have approved and fixed 20th November, 2023 as the Record Date for the purpose deciding the Members who shall be eligible to the allotment of the Bonus Shares as per ratio mentioned above by capitalization of such as may be required, from the Securities Premium Account, Free Reserves or any other permitted reserves/ surplus of the Company for the purpose of issue of Bonus Shares of Rs. 10/- (Rupees Ten Only) each, credited as fully paid-up to the holders of the Equity Shares of the Company, whose names appear on the Register of Members on the Record Date of 20th November, 2023."

Olatech Solutions Stock Performance & Return: Olatech Solutions Stock Performance & Return: Last trading price of Olatech Solutions stock on BSE is Rs 149.55 apiece. Its 52-week high price is Rs 165.00 apiece and 52-week low price is Rs 40.58 apiece, respectively. Its market capitalisation is Rs 64.74 crore. Olatech Solutions shares gained 186% YTD and jumped 169% in last 1-year. Olatech Solutions shares hit lower circuit on November 24, 2023 but traded fresh 52-week high. However, Olatech Solutions shares touched upper circuits for 5 consecutive sessions beginning from November 20 to November 23.

Olatech Solutions About: Olatech Solutions is a certified, Public Limited company & registered with MSME & Govt. Of India's Startup India Initiative. Key offerings include software solutions such as NOC tools, Network monitoring, management & analytics, AAA solution for users & devices, data centre infrastructure management, ERP, CRM, digital marketing solution i.e. SEO, SEM, SMM, AdWords, web development, ORM, media buying etc. It has gained experience by collaborating with its clients across verticals such as Telcos, ISPs, Enterprises, Data Centre Service Providers & Public Sector.

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.

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