Small Cap Co To Acquire German-Based Add Solution For Euro 5.5 Mn, Shares Hit Upper Circuit

Board of small Cap company Axiscades Technologies Ltd approved 100% acquisition of German-based add solution GmbH in a phased manner on June 16. Soon after the news, Axiscades Technologies shares hit 5% upper circuit on BSE to settle at Rs 383.50 per share. Axiscades Technologies shares delivered 204% return in last 1-year only. Check details below:

Axiscades Technologies To Acquire add solution GmbH: As per the BSE filing of Axiscades Technologies, "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the meeting of the Board of Directors ("Board") of AXISCADES Technologies Limited ("AXISCADES" or "Company") was held on June 15, 2023, the Board inter alia, considered and approved the 100% acquisition, in a phased manner, of add solution, GmbH, Germany, specializing in Automotive Solutions to Global OEMs. The acquisition will be carried out through AXISCADES GmbH, a wholly owned subsidiary of AXISCADES."

Axiscades Technologies Stock Performance & Return: Last trading price of Axiscades Technologies share is Rs 383.50 per share with intraday gain of 5.00%. Its 52-week high price is Rs 410.70 per share and 52-week low price is 108.40 per share, respectively. Its market capitalisation is Rs 1,464.94 crore. Axiscades Technologies share delivered return of 204% in last 1-year, 328% return in last 2-years, and 1067% return in last 3-years only. It offered maximum return in last 3-years.

Axiscades Technologies About: AXISCADES is a technology solutions company focussing on engineering solutions and services. We bring expertise that caters to the engineering, technology, manufacturing and digital needs of fortune 100 clients in aerospace, defence, heavy engineering, automotive, energy & medical equipment sectors. With decades of experience in creating innovative, sustainable and safer products worldwide, AXISCADES delivers business value across the entire engineering lifecycle, according to its official website.

About add solution GmbH: add solution GmbH is a Company based out of Wolfsburg, Germany which specializes in automotive design and development. They specialize in services such as wiring systems, software testing and automation for Global Automotive OEMs. The Company recorded sales revenue of Euro 8.2 Mn in financial year 2022.

Disclaimer: The stock hit upper circuit after its board approved acquisition of German based add solution GmbH. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.