Promoters bought 2,800 shares of this multibagger IT-software company; Board is likely to announce bonus shares!
The stock gave multibagger returns of 160 per cent in just 1 year whereas BSE Sensex Index is up by 21 per cent. I
On Wednesday, shares of AccelerateBS India Ltd zoomed 1.5 per cent to Rs 340 with an intraday high of Rs 348.55 and an intraday low of Rs 340 from its previous closing of Rs 355. The stock’s 52-week high is Rs 404.95 and its 52-week low is Rs 114.
AccelerateBS India Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Friday, July 26, 2024, at 2:00 p.m. at the registered office of the company, inter alia to consider, approve and recommend the proposal to issue bonus equity shares of the company.
AccelerateBS India Ltd, founded in 2022, is a digital technology services company offering a variety of services including digital project consulting, custom software development and DXP (Digital Experience Platform) implementation specifically for Optimizely, Crownpeak and Contentful platforms. They boast a team with in-house expertise in full-stack Microsoft and Node.js development and utilize modern API-first and microservices architectures.
With a focus on Insurance, Financial Services and Pharma/Healthcare industries, AccelerateBS India Ltd partners with industry leaders like Crownpeak DXP, Contentful DXP, and Optimizely DXP to deliver powerful and scalable software solutions. The company has a market cap of Rs 73 crore; debtor days have improved from 78.3 to 45.8 days and the company's working capital requirements have reduced from 47.9 days to 28.0 days.
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In March 2024, the promoters bought 2,800 shares and increased their stake to 70.72 per cent compared to 70.59 per cent in September 2023. The stock gave multibagger returns of 160 per cent in just 1 year whereas BSE Sensex Index is up by 21 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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