Yield 24.41%, Dividend Rs 30: Multibagger IT Stock Set To Consider Dividend, Shares Rise 6.68%

Small cap IT software sector company Xchanging Solutions Ltd shares witnessed sharp rally of 6.68% in trade today and witnessed spurt in volume by more than 5.07 times. The IT company informed on May 15 about its upcoming meeting of Board of Directors to be held on May 23, 2024 to consider dividend and financial results. Earlier, Xchanging Solutions declared an equity dividend amounting to Rs 30 per share in last 1-year span. Current market price of Xchanging Solutions share on BSE is Rs 123.00 per share. Xchanging Solutions shares zoomed over 26% in last 6-months and 102% in last 1-year.

FII/FPI have increased holdings from 0.11% to 0.23% in March 2024 quarter. Number of FII/FPI investors increased from 9 to 13 in March 2024 quarter. Institutional Investors have increased holdings from 0.40% to 0.52% in March 2024 quarter, according to Trendlyne. Xchanging Solutions has a PE of 3.78 and ROE of 125.13.

Xchanging Solutions To Consider Dividend, Results: As per the BSE filing of Xchanging Solutions dated May 15, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, May 23, 2024 to inter-alia consider and approve the Audited (Standalone & Consolidated) Financial Results of the Company for the Quarter and Financial year ended March 31, 2024 and to consider and recommend Final Dividend, if any, on the Equity Shares of the Company for the Financial Year ended March 31, 2024."

Xchanging Solutions Dividend History: Xchanging Solutions Ltd. announced 2 dividends since July 28, 2023. In last 1-year, Xchanging Solutions Ltd. announced an equity dividend amounting to Rs 30.00 per share. At the current share price of Rs 123.00, Xchanging Solutions Ltd. offers a dividend yield of 24.41%.

Xchanging Solutions Share Performance & Return: The 52-week high price of Xchanging Solutions share on BSE is Rs 176.90 per share (as on 20/02/2024) and 52-week low price is Rs 59.30 per share (as on 22/05/2023), respectively. Xchanging Solutions share offered return of 7% in last 1-week, declined 24% in last 3-months, zoomed 71% in last 2-years, and soared 177% in last 5-years.

Xchanging Solutions Technical: Score is 52.02 indicating the stock is technically neutral. Stocks with score above 70 are considered as technically Strong and below 35 are considered weak. RSI is 39.5, RSI below 30 is considered oversold and above 70 overbought. MFI is 10.8, MFI below 20 is considered strongly oversold. This implies that stock may rebound, as per Trendlyne data.

Xchanging Solutions Financial Performance: The company for the quarter ended December 2023 declared its net sales at Rs 42.48 crore, up 2.71% as against Rs 41.36 crore declared in the corresponding quarter of last year. Its quarterly net loss came at Rs 3.54 crore for December 2023, down 151.16% from Rs 6.92 crore in December 2022. The company's EBITDA stood at Rs 15.93 crore for the December 2023 quarter, up 54.51% as against Rs 10.31 crore declared in December 2022.

About Xchanging Solutions: It offers business process outsourcing (BPO) and information technology outsourcing (ITO) software. It develops solutions for industries like insurance, financial services, government, manufacturing, logistics, public services, and emerging markets such as real estate, healthcare, media, and entertainment, among others.

Disclaimer:

The stock highlights the dividend 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.