3:5 Bonus Issue: IT Stock Set To Approve Bonus Share Allotment, Shares Hit Upper Circuit

Small cap company operating in IT Enabled Services sector, Titan Intech Ltd shares today hit 5% upper circuit after it informed about its upcoming meeting of Board of Directors to be held on May 21, 2024 to consider and approve allotment of bonus share. Earlier, Titan Intech had approved bonus share in the ratio of 3:5 implying shareholders will be eligible to receive 3 bonus shares for every 5 shares held as on the record date that has been revised to May 17, 2024. Last trading price of Titan Intech share on BSE is Rs 100.62 per share with intraday gain of 5.00%. Titan Intech shares zoomed over 8% in past 1-week and soared 3418% in last 3-years. More details below:

Titan Intech To Consider Bonus Share Allotment On May 21: As per the BSE filing of the company dated May 13, 2024, "Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Regulations") we hereby inform you that a meeting of Board of Directors of the Company is scheduled to be held on Tuesday, 21st May, 2024, inter alia, to consider and approve the allotment of Bonus Shares to the Equity Shareholders of the Company."

Intimation of Record Date Extension: The BSE filing dated May 7 stated, "In Continuation to our earlier communication dated 06th May, 2024, informing the fixation of Record date of Tuesday, 14th May, 2024 for the purpose of ascertaining the eligibility of the shareholders entitled for Bonus Shares, we would like to inform you that the record date has been revised to Friday, entitled for Bonus Shares, we would like to inform you that the record date has been revised to Friday, 17 May, 2024 for the issuance of Bonus Equity Shares of the Company in the ratio of 3 (Three) new fully paid-up equity shares of Rs. 10/- (Rupee Ten Only) each for every 5 (Five) fully paid-up Equity Share of Re. 10/- (Rupee Ten Only)."

Titan Intech Shares Performance & Return: The 52-week high price of Titan Intech shares on BSE is Rs 113.00 per share (as on 05/04/2024) and 52-week low price is Rs 38.60 per share (26/07/2023), respectively. Titan Intech has a market capitalisatoin of Rs 116.21 crore. Titan Intech shares gained 67% YTD, soared 77% in last 1-year, zoomed 249% in last 2-years, and offered return of 1457% in last 3-years. In last 3-years. Titan Intech has a PE of 26.00, ROE of 15.53, and EPS (TTM) of 3.87.

Titan Intech Financials: The company for the quarter ended December 31, 2023 declared its standalone total income at Rs 12.26 crore, up 15.00% from preceding quarter total income of Rs 10.66 crore. It declared its latest quarter net profit after tax at Rs 1.69 crore.

Titan Intech About: Titan Intech Limited is an information technology (IT) based services products and electrical solutions and services company. It offers multi discipline design, engineering, supply, installation, commissioning, and project management for electrical systems, among others. The zero-debt burden company came into existence in 1984.

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