Bonus Issue Soon: Small Cap Stock Hits Upper Circuit, 52-Week High; Soars 257% In 3 Months

Small cap stock Alphalogic Industries Ltd shares have been witnessing sharp upward movement for the last 3 months as it has already offered 257% return in this time period. Alphalogic Industries shares hit 5% upper circuit and fresh 52-week high in trade today on BSE. Board of Alphalogic Industries are scheduled to meet on October 18 to consider the proposal of bonus issue and approve aun-audited financial results for Q2. Alphalogic Industries recently won an order from Swiggy worth Rs 71,10,257.00. Check details below:

Alphalogic Industries To Consider Bonus Issue, Declare Quarterly Results This Week: 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 the stock on BSE is Rs 344.10 per share. Its 52-week high price is quoted at Rs 344.10 per share and 52-week low price is quoted at Rs 95.60 per share, respectively. The company has a market capitalisation of Rs 175.31 crore. Alphalogic Industries shares surged 35% in last 1-week span, gained 80% in last 2-weeks, and offered a return of 79.83% in last 1-month. In last 3-months, Alphalogic Industries stock soared 257%.

Earlier, Alphalogic Industries share was listed on the BSE SME exchange at Rs 96 per share similar as the IPO's issue price on July 14. Alphalogic Industries IPO opened on July 3 and closed on July 6, 2023. Its IPO was entirely a fresh equity issue of up to 13.41 lakh equity shares, aggregating up to Rs 12.88 crore.

Alphalogic Industries Bags Order From Swiggy: Recently, Alphalogic Industries bagged order to design, manufacture, supply and installation of Storage Racking System from Scootsy Logistics Private Limited (popularly known as "Swiggy") for their units based in Sanga Reddy, Malkajigiri and Ranga Reddy District in Telangana, Mormugao and Calungute in Goa and Vadodara in Gujarat. The order was worth Rs 71,10,257.00 (Seventy One Lakhs Ten Thousand Two Hundred and Fifty Seven) Inclusive of GST. The time period by which the order needs to be completed is this month only.

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.

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