Maiden Bonus Issue Likely On Oct 18: Small Cap Stock Hits 10% Upper Circuit

Small cap stock from the Capital Goods-Non Electrical Equipment sector, Alphalogic Industries Ltd hit 10% upper circuit today and fresh 52-week high after Board Of Directors informed BSE that the company will consider declaration of bonus share on October 18 along with un-audited financials for the half year ended September 30, 2023. Last trading price of Alphalogic Industries share on BSE is Rs 297.30 per share on BSE.

Alphalogic Industries To Consider Declaration Of Bonus Issue: According to the BSE filing of the company dated October 10, 2023, "This is to inform you that pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the meeting of the Board of Directors of the Company will be held on Wednesday, 18th October, 2023 at the registered of[ice of the Company, inter-alia, to:

1. Consider and Approve the Un-Audited Financials for the Half Year ended 30th September, 2023.
2. Consider & approve increase in Authorised Share Capital and alteration in Capital Clause "V" of Memorandum of Association of the Company.
3. Consider & declaration of issue of Bonus Shares to the Equity Shareholders subject to rules and regulations of exchange, if any.
4. Consider & approve notice of Postal Ballot."

Alphalogic Industries Stock Outlook & Return: Current market price of Alphalogic Industries share on BSE is Rs 297.30 per share with intraday gain of 9.99%. Its 52-week high price is Rs 297.30 per share and 52-week low price is Rs 95.60 per share, respectively. The company's market capitalisation is Rs 151.46 crore. Alphalogic Industries shares witnessed a sharp rally of 41% in last 1-week only, soared 57% in last 2-weeks, and gained over 30% in last 1-months.

Earlier this year on July 14, Alphalogic Industries share was listed on the BSE SME exchange at Rs 96 per share similar as the IPO's issue price. Alphalogic Industries IPO opened on July 3 and closed on July 6. The company's IPO was entirely a fresh equity issue of up to 13.41 lakh equity shares, aggregating up to Rs 12.88 crore.

Alphalogic Industries About: The company has designed and delivered storage solutions for the automobile industry, libraries, food industry, logistics companies, engineering companies, pharmaceutical organizations, educational institutes, IT companies, etc. Some of the storage systems that are in demand are Pallet Racking System, Shelving Systems, Mezzanine & Cantilever Racking, Mobile Compactor, Metal Pallets, Storage and Display racks. It is also a known Die storage racks manufacturer in Pune, according to its official website.

Disclaimer

The stock just highlights the bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.