This small-cap stock has announced huge dividend; offering a higher dividend yield than TCS and Infosys; stock has hit a 52-week high!

This intriguing move adds a layer of uniqueness to this small-cap stock, making it an exciting prospect for investors looking for both growth and income.

In the bustling landscape of India's stock market, where benchmark indices like the Sensex and Nifty are dancing to the tune of optimism, there's one Small-Cap stock that has truly stolen the spotlight. The company has headquartered in the vibrant city of Chennai, is making waves by hitting a fresh 52-week high at a staggering Rs 645 per share, surging more than 1 per cent. But what's behind this remarkable rally?

Allsec Technologies Ltd isn't your run-of-the-mill company. Established in 1998, it has grown to become a global brand, specializing in Employee Experience Management (EXM) and International Customer Experience Management (CXM). If that's not impressive enough, they're also India's leading Payroll Services Provider. With a workforce of 5,400 employees spread across India, the Philippines, and the US, Allsec processes a jaw-dropping 1.24 million pay slips every month for over 600 clients worldwide.

What sets them apart is their cutting-edge SmartHR and SmartPay platforms, designed to tackle the intricate challenges of today's HR environment. These platforms incorporate the latest in technology, including Robotic Process Automation (RPA), Smart Analytics, Chatbots, and Mobility to enhance employee engagement.

Here's where it gets even more fascinating: Allsec Technologies Ltd reported an astounding 19.3 percent year-on-year growth in revenue from operations. This growth is driven by their prowess in both the CXM and EXM verticals. Their profit after tax also saw a notable 2.3 percent YoY increase, showcasing not just revenue growth but healthy profitability.

But what's truly turning heads is their recent announcement of an interim dividend of Rs 30 per equity share, each with a face value of Rs 10. And here's the kicker: the record date for this dividend is set for Friday, November 10, 2023. The stock offers an impressive yield of 3.12 percent, and what's even more impressive is that the company has maintained a consistent track record of paying dividends for the last five years.

Perhaps the most intriguing part is that Allsec Technologies Ltd is offering a higher dividend yield than the IT giants TCS and Infosys, the stalwarts of India's information technology industry. This intriguing move adds a layer of uniqueness to this small-cap stock, making it an exciting prospect for investors looking for both growth and income.

So, while the broader markets surge, Allsec Technologies Ltd is not just riding the wave but creating its own ripples of success. With a rich history, global reach, impressive financials, and a dividend yield that turns heads, this small-cap gem from Chennai is indeed a captivating story in India's dynamic stock market landscape.

Disclaimer: The article is for informational purposes only and not investment advice.