Only Buyers: Multibagger IT Stock Hit Back-to-Back Upper Circuits After Raising of Funds by Its Subsidiary Ticker Ltd
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 313.90 per share and a whopping 540 per cent in 3 years. Investors
On Friday, one of the Top Gainers on BSE, shares of 63 Moons Technologies Ltd hit a 5 per cent upper circuit to Rs 662.95 per share from its previous closing of Rs 631.40 per share. The stock’s 52-week high is Rs 688.80 and its 52-week low is Rs 313.90.
63 Moons Technologies Limited inform that its subsidiary Ticker Limited has further raised funds through the private placement of 7,30,00,000 fresh equity shares at Rs 20 per share. Subsequent to the above allotment by Ticker Limited, the shareholding of 63 moons in Ticker Limited stands at 67.49 per cent.
Earlier, The NSEL Investors Forum (NIF) presented a significant proposal to 63 Moons Technologies Limited, aiming for a one-time full and final amicable settlement (OTS) through a judicial forum. This proposal, intended to resolve all ongoing litigation against the 63 Moons group, involves the assignment of investor rights and claims to the company. The NIF seeks Rs 1,950 crores for distribution to unpaid investors, contingent upon the withdrawal or settlement of legal proceedings. The proposal, with its conditions and safeguards, offers a potential path to resolving the long-standing issues faced by NSEL investors.
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About the Company
63 Moons Technologies Limited develops trading technologies. The company offers a trading platform for multi-asset classes such as equity, commodity, and equity and forex-based derivatives. 63 Moons Technologies provides warehousing and collateral management services worldwide.
The company has a market cap of Rs 3,055 crore and has delivered good profit growth of 52.4 per cent CAGR over the last 5 years. The company's promoters own 45.63 per cent of the shares, while FIIs own 3.05 per cent and DIIs own 0.01 per cent as of September 2024. The public owns the remaining 51.31 per cent of the shares. Additionally, the stock is trading at 0.92 times its book value of Rs 720.
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 313.90 per share and a whopping 540 per cent in 3 years. Investors should keep an eye on this multibagger small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.