Multibagger from its 52-week low and Promoters increase stake: Board announces bonus shares for first time ever!

The stock gave multibagger returns of 143.6 per cent from its 52-week low of Rs 75 per share.

Olatech Solutions Ltd informed that the Board of Directors of the company have approved bonus shares in the ratio of 17:20 i.e., 17 bonus equity shares of Rs 10 each for every 20 fully paid-up equity shares of Rs 10 each held as on the record date. The company fixed the record date as Monday, November 20, 2023.

Pre-Bonus issue paid-up share capital: Rs 2,34,00,000 divided into 23,40,000 equity shares of the face value of Rs 10 each.

Post Bonus Issue: Rs 4,32,90,000 divided into 43,29,000 equity shares of face value of Rs 10 each.

Additionally, the promoter of the company, Amit Kumar Singh have increased his stake from 49.06 per cent to 50.43 per cent in September quarter for the fiscal year 2024.

Olatech Solutions Limited is engaged in the business of data centre, enterprise, telecom and IT software solutions in the operations support system and business support system (OSS and BSS) segment. The company's software solutions are offered under the registered trademark "Epiphany". The company has a market cap of over Rs 40 crore and reported amazing numbers in its half-yearly results and annual results.

On Wednesday, shares of Olatech Solutions plunged 2.03 per cent to Rs 179 per share with an intraday high of Rs 182.7 and its intraday low of Rs 179. The stock falls under the SME segment with a lot size of 2,000 shares.

The shares of the company have an ROE of 39.6 per cent and an ROCE of 53 per cent. The stock gave multibagger returns of 143.6 per cent from its 52-week low of Rs 75 per share. Investors should keep an eye on this micro-cap stock.

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