Micro-cap gem: Bonus share announcement propels multibagger penny stock almost to a 52-week high!

Shares have recorded a notable gain of around 60 per cent in the past six months, translating into multibagger returns of 115 per cent over the last year.

The Indian headline indices began the week on a positive note, with the BSE Sensex reaching an unprecedented level of 70,000. There was notable buying activity in the energy, oil & gas, real estate, and FMCG sectors. The broader indices outperformed the main indices by a wide margin. With 2,306 shares rising on the BSE and 1,280 shares declining, the advance-decline ratio strongly remained in favour of advances.

Alphalogic Techsys Ltd, a micro-cap stock, has garnered investor interest from those seeking to capitalize on upcoming corporate actions. The company has set December 15, 2023, as the record date to determine the eligibility of shareholders for the issuance of bonus equity shares. Shareholders are entitled to receive one bonus equity share of Rs 5 each for every three existing equity shares of Rs 5 each held.

Shares have recorded a notable gain of around 60 per cent in the past six months, translating into multibagger returns of 115 per cent over the last year. Shares that have experienced a strong rally saw a surge in momentum due to this development, nearly reaching a 52-week high of Rs 80 per share on the BSE on Friday.

The company operates in the information technology and consulting services sector, serving as a consulting firm that assists clients in navigating their digital transformation journey. Their services encompass various areas, including mobile app development, web app development, UI/UX consulting, business intelligence, and product strategy. With a decade of experience, the company has effectively accomplished over 110 projects, satisfying the needs of more than 100 delighted clients.

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