IT Stock Hits 2% Upper Circuit On Fixing Record Date For 1:3 Bonus Shares: Do You Own?

Alphalogic Techsys Ltd is a small-cap company with a market cap of Rs 280 Cr in the IT sector. On Friday, the shares of Alphalogic Techsys were locked in a 2% upper circuit of Rs 79.88 apiece on the BSE during the morning deals after the company had declared a record date for 1:3 bonus shares.

"In terms of regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Company has fixed Friday, December 15, 2023, as the 'Record Date', for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 01 (One) Bonus Equity Shares of Rs. 05 each for every 03 (three) existing Equity Share of Rs. 05 each held," said the company in a stock exchange filing.

The firm reported net sales of Rs 12.51 crore for the quarter ended September 30, 2023, up 202.21% from Rs 4.14 crore in September 2022. In Q2FY24, it reported a quarterly net profit of Rs 1.30 crore, up 147.37% from the Rs 0.52 crore reported during Q2FY23. For the second quarter of the current fiscal, Alphalogic Techsys' EBITDA increased to Rs 2.58 crore, up 203.53% from the Rs 0.85 crore reported in the corresponding quarter of the previous fiscal.

The shares of Alphalogic Techsys reached a 52-week-high of Rs 80.00 on (22/11/2023) and a 52-week-low of Rs 25.03 on (28/03/2023), indicating that at the current market price, the stock is trading 219.13% above its 1 year low and 0.15% below its 1 year low. During Q2FY24, the company recorded promoters' shareholding of 73.00% and public stake of 27.02%.