Multibagger penny stock at Rs 50 to keep under radar as Board is likely to raise funds via preferential issue from promoters/non-promoters!
The stock gave multibagger returns of 225 per cent in just 2 years and a whopping 1,575 per cent in 3 years.
Titan Intech Ltd has informed the Exchange that its Board of Directors meeting will be held on Thursday, September 5, 2024. The agenda includes finalizing the date, time, venue, and mode of conducting the 40th Annual General Meeting (AGM) and approving the Director's report with annexures. Additionally, the Board will discuss and approve the book closure period for the AGM. To raise funds, the Company plans to issue preferential equity shares and/or convertible equity share warrants to Promoters/Non-Promoters, subject to necessary approvals. Furthermore, the meeting will address an increase in the Company's Authorized Share Capital.
Additionally, Titan Intech Limited and Obel Systems Private Limited have partnered to execute a government-funded project in Uttar Pradesh aimed at improving weather forecasting and disaster preparedness. The initiative involves installing 27,939 Automatic Rain Gauges and Automatic Weather Stations across the state's 27,838-gram panchayats to provide real-time rainfall and weather data. This information will enable authorities to issue timely warnings and implement effective measures to mitigate the risks of floods and droughts. With a government investment of Rs 360 crore, this project is expected to enhance Uttar Pradesh's resilience to climate-related challenges and improve the well-being of its population.
About the Company
Established in 1984, Titan Intech Ltd (TIL) has emerged as a leading player in the realm of IT and data center solutions. Initially focused on manufacturing threads, TIL strategically shifted its focus to the IT sector, forming alliances with industry experts. Today, the company offers a comprehensive range of services, including cloud solutions, disaster recovery, managed services and robust security measures.
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TIL's commitment to excellence is evident in its diverse clientele, which includes prominent names such as Ajel Limited, Bridgetown Consulting Group, and Global Data Tek. By providing reliable and efficient IT infrastructure and data center solutions, TIL has earned the trust and loyalty of its customers, solidifying its position as a trusted partner in the industry.
On Friday, shares of Titan Intech Ltd plunged 1.59 per cent to Rs 46.51 per share from its previous closing of Rs 47.26 with an intraday high of Rs 49.29 and an intraday low of Rs 44.90. The stock’s 52-week high is Rs 75 and its 52-week low is Rs 27.91. The shares of the company saw a spurt in volume by more than 2.48 times on BSE.
The company has a market cap of over Rs 100 crore. The stock gave multibagger returns of 225 per cent in just 2 years and a whopping 1,575 per cent in 3 years. 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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