1:1 Bonus Share: Multibagger Stock Hits Lower Circuit For 3rd Day, Falls 5% In 1-Week

Small cap stock operating in Capital Goods-Non Electrical Equipment sector Alphalogic Industries Ltd witnessed back-to-back lower circuit for the last two days. The stock hit lower circuit the day Alphalogic Industries announced bonus share in the ratio of 1:1 (October 18). Last trading price of Alphalogic Industries share on BSE is Rs 319.50 per share with intraday fall of 2.02%. The stock hit lower circuit on October 19, October 18, and October 17. Alphalogic Industries shares offered return of 227% in last 3-months. Check details below:

What is bonus share?

These are additional shares given to the existing shareholders without any extra cost, on the basis of the number of shares that a shareholder holds. Bonus shares are company's accumulated earnings which are not given out in the form of dividends, but are converted into bonus shares of free shares.

Alphalogic Industries Recommended 1:1 Bonus Share: The board of directors of the company recommended 1:1 bonus issue on October 18 implying shareholders will receive one bonus share for every one share held as on the record date. The company fixed November 24, 2023 as the record date for bonus share.

Alphalogic Industries Stock Outlook & Return: Alphalogic Industries shares declined nearly 5% in last 1-week span. Current market price of Alphalogic Industries share on BSE is Rs 319.50 per share. Its 52-week high price is Rs 368.00 per share on BSE and 52-week low price is Rs 95.60 per share, respectively. The company's market cap is Rs 165.27 crore. Alphalogic Industries made its debut on the BSE SME exchange at Rs 96 per share similar as the IPO's issue price on July 14. Earlier, the company's 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 Received 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.

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.