Promoters bought 2,800 shares of this multibagger IT-software company; Board announces 3:5 bonus shares!
The stock gave multibagger returns of 200 per cent in just 1 year whereas BSE Sensex Index is up by 22 per cent.
On Friday, shares of AccelerateBS India Ltd zoomed 1.94 per cent to Rs 356.80 with an intraday high of Rs 360 and an intraday low of Rs 350 from its previous closing of Rs 350. 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 announced bonus shares in the ratio 3:5 i.e., 3 equity shares of Rs 10 each for every 5 existing equity shares of Rs 10 each.
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 77 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.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
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 200 per cent in just 1 year whereas BSE Sensex Index is up by 22 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Rs 1,400 Crore Order Book: Multibagger Defence Drone Company Introduces AI-powered Robots; Unveils Four Products for the Global Defence Market