Bonus Issue 14:48: Record Date This Week On 13th July; Buy/Add/Hold The IT Stock?

The businesses that make up Alphalogic are diverse and have interests in manufacturing, biofuel production, blockchain, bioethanol production, and information technology. Established in 2018, Alphalogic Techsys is a flagship firm that specialises in delivering information technology and related services. Cloud computing, mobility, artificial intelligence, and product engineering are among the services offered by Alphalogic Techsys. The IT stock is going to trade ex-bonus on 12th July for 14:48 bonus shares for which the record date is serving as 13th July.

Alphalogic Techsys Bonus Share Record Date

"In continuation to our communication dated 02nd July, 2024, we would like to inform you that the company has received In-principle approval letter from BSE on 09th July, 2024, for the proposed Bonus Issue in the ratio of 14:48 i.e 14 (Fourteen) Bonus Equity Shares of Rs. 05/- each for every 48 (Forty Eight) existing Equity Share of Rs. 05/- each held. As intimated on 02nd July, 2024, the record date to determine entitlement of eligibility of shareholders for Bonus Shares shall be Saturday, July 13, 2024," said Alphalogic Techsys in a stock exchange filing on 9th July.

Alphalogic Techsys Bonus Shares Update

"The bonus shares upon their issue and allotment shall rank pari-passu in all respects with the existing shares including dividend, if any. As of March 31st, 2024 the Audited Cumulative reserves and surplus of the Company is Rs. 522.21 Lakhs. The Securities Premium of the Company shows a balance of 450.29 Lakhs as of May 08, 2024. The reserves and surplus including the security premium required for implementing the bonus issue required is Rs. 706.96 Lakhs," the company informed to stock exchanges.

Alphalogic Techsys Share Price Target

"Software company Alphalogic Techsys Ltd is currently trading at Rs.331.85 and could be a lucrative option for those willing to explore its growth potential. The small-cap company with a market valuation of Rs.1,532 crore has recorded a one-year gain of 818.68%, displaying strong financial footing and attractive market performance. Those interested in the software service sector can consider the buying range of Rs.290-335 to enter the stock for a target price of Rs.380-500. I encourage traders and investors to hold the Alphalogic Tech stocks for a period of 2-20 weeks and closely follow the stop loss of Rs.255 to minimize exposure to risks," commented V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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