Penny IT Stock Below Rs 90 To Keep Under Radar As Board Announces Stock Split; Check Record Date Inside

The stock is up over 90 per cent from its 52-week low of Rs 45.80 per share.

Shradha AI Technologies Limited (formerly known as Shradha Industries Limited) has announced a record date of Tuesday, December 10, 2024, to determine the eligibility of shareholders for the subdivision/split of existing Equity Shares with a face value of Rs. 5/- (Five) each, fully paid-up, into Equity Shares with a face value of Rs. 2/- (Rupees Two only) each, fully paid-up. This split aims to make the shares more affordable and increase liquidity in the market.

Incorporated in 1990, Shraddha AI Technologies Ltd has been at the forefront of the Indian IT industry for over three decades. Initially known as Shraddha Industries Ltd, the company has evolved to become a leading provider of comprehensive IT solutions and services. Their core business areas include trading in computers, components, and peripherals, mobility products, and enterprise solutions.

Shraddha AI Technologies offers a wide range of services to cater to the diverse needs of its clients. From IT consulting to data analytics, the company provides expert solutions tailored to specific requirements. Their mobile app development services enable businesses to leverage the power of mobile technology, while their website development services help create engaging online presences. Additionally, their technical manpower supply services ensure clients have access to skilled IT professionals to meet their project needs.

The company has a market cap of over Rs 190 crore with a PE of 24x, an ROE of 13 and an ROCE of 18 per cent. The has delivered good profit growth of 64 per cent CAGR over the last 5 years and has been maintaining a healthy dividend payout of 36 per cent. The stock is up over 90 per cent from its 52-week low of Rs 45.80 per share. 

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