4:5 Bonus Issue: Small Cap IT Stock Hits Upper Circuit For 5th Day, Ex-Date 3 Days Away

IT Software sector stock NINtec Systems Ltd has been hitting back-to-back upper circuits for 5 days in a row now and gained 17% in last 1-week only. The stock also hit its new 52-week high today (July 31, 2023). Earlier, NINtec Systems approved 4:5 bonus shares and fixed August 3, 2023 as the record date. It implies shareholders of NINtec Systems will receive 4 bonus shares for every 5 shares held on August 3. NINtec Systems shares soared 3162% in just last 2-years. Check details below:

NINtec Systems Fixed Record Date For 4:5 Bonus Issue: The company on July 24, 2023 fixed August 3, 2023 as the record date for the purpose of determining the list of shareholders eligible for the allotment of bonus equity shares.

NINtec Systems on June 19, 2023 announced bonus issue and said in the BSE filing, "The Board recommended the issue of bonus equity shares in the ratio of 4:5 [i.e., 4 (Four) bonus equity shares of Rs. 10/- each for every 5 (Five) fully paid-up equity shares held as on record date] subject to the approval of the shareholders by Postal Ballot. The detailed disclosure as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9,2015 is enclosed as Annexure - I."

NINtec Systems Bonus History: The company has announced 2 bonuses since June 6, 2022, according to Trendlyne. The recent bonus issue announced is in the ratio 4:5 and ex-date is Aug. 3, 2023.

NINtec Systems Stock Performance & Return: Last trading price of NINtec Systems share is Rs 662.70 per share with intraday gain of 5.00%. It hit upper circuit and traded new 52-week high today. The stock is also witnessing spurt in volume for the last few days. The 52-week high price of NINtec Systems share is Rs 662.70 per share and 52-week low price is Rs 84.65 per share that it witnessed on August 1, 2022. NINtec Systems shares offered massive returns to shareholders and surged 721% in just 1-year time. It gave return of 4489% in last 3-years.

Nintec Systems Financial Outlook: The company for the quarter ended March 31, 2023 declared its standalone total income at Rs 11.73 crore, up 27.41% as against the preceding quarter total income of Rs 9.21 crore. It declared its latest quarter net profit after tax at Rs 1.92 crore.

Nintec Systems About: NINtec Systems Limited is a leading global technology company having specialisation in software development and solutions. Its headquarter is located in Ahmedabad, Gujarat. It offers a diverse range of services, including application development and maintenance, strategic offshore software product development, legacy system development and software migration, and search engine optimization, as per its official website.

Disclaimer: The stock highlights the bonus issue 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 ay losses. Please consult a professional advisor.