Bonus Issue Likely Next Week: Small Cap Stock Hits 3rd Upper Circuit In A Row

Small cap company Alphalogic Industries Ltd shares hit back-to-back upper circuits and traded fresh 52-week high on October 11, October 12 and October 13 as the company is likely to announce bonus shares on October 18. Earlier, Alphalogic Industries' IPO was opened on July and closed on July 6 and it was listed on the BSE SME exchange at Rs 96 per share on July 14 which was similar to the IPO's issue price. Last trading price of Alphalogic Industries share on BSE is Rs 327.75 per share. Alphalogic Industries shares more than doubled investors wealth from July 14 to October 13 by offering return of 241.41% Check details below:

Alphalogic Industries To Mull Issue Of Bonus Issue: As per 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 Share Performance & Return In Last 3 Months: Last trading price of Alphalogic Industries stock on BSE is Rs 327.75 per share as on October 13, 2023. Alphalogic Industries shares have been witnessing an upward rally as the stock hit 3 consecutive upper circuits and 52-week high from October 11 to October 13. Alphalogic Industries stock hit back-to-back 52-week high on October 9 and October 10 and traded upper circuit on October 9. In last 1-week only, Alphalogic Industries shares gained 42%, rallied 72% in last 2-weeks, and offered return of 55% in last 1-month.

Alphalogic Industries IPO: 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 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.