Multibagger from its 52-week low; Board announced stock split!

The stock gave multibagger returns of 186.20 per cent from its 52-week low of Rs 11.20 per share.

Sylph Technologies Ltd informed that the Board of Directors of the company approved the sub-division/split of 1 (One) equity share of face value Rs 10 each fully paid up into 10 (Ten) equity shares of Rs 1 each fully paid up. The company verified the record date as Friday, June 02, 2023.

On Friday, the benchmark indices closed the market higher with Sensex up 123.38 points or 0.20 per cent at 62,027.90, also BSE Information Technology Index plunged 0.21 per cent or 57.49 points to Rs 29,349.86.

Despite being a mixed market, shares of Sylph Technologies Ltd surged 4.85 per cent to Rs 32.05 per share from its previous closing of Rs 30.57 per share. The stock gave multibagger returns of 186.20 per cent from its 52-week low of Rs 11.20 per share.

DSIJ offers a product 'Tiny Treasure' with recommendations for Small-Cap & micro-cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the product details pdf here

Sylph Technologies Ltd is a leading software technology company in India, providing software development services & solutions for web and mobile enablement. The company has a market cap of Rs 45.60 crore with a 3-year CAGR of 90 per cent.

The corporation reported positive results in its quarterly and annual financial statements. In FY21 when the net profit was only Rs 0.02 crore, it skyrocketed to Rs 0.33 crore or 1550 per cent in FY23.

Investors should keep an eye on this stock.