1:2 Bonus Shares: January 08 Record Date; Buy The Stock For Your 2025 Portfolio?

Algoquant Fintech Limited, formerly known as Hindustan Everest Tools Limited, is a fully hedged derivatives arbitrage company that places a strong emphasis on technological innovation and development. The company was first established in 1962 under the name Hindustan Everest Tools Limited, and in 2022 it rebranded itself as Algoquant Fintech Limited. As the record date for 1:2 bonus shares draws closer, Algoquant Fintech's shares closed Monday 2.35% higher at Rs 1,517.25 a share, with a market capitalization of Rs 2.21KCr.

Algoquant Fintech Bonus Shares

"Pursuant to the provisions of Regulation 29 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, this is to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, January 09, 2025, at 10:30 A.M. (IST), at Corporate Office of the Company situated at 1st Floor, 4/11, Asaf Ali Road, New Delhi-110002, inter alia to consider and approve the Allotment of Bonus equity shares to the eligible shareholders (as per record date i.e. January 08, 2025) of the company," said Algoquant Fintech in a stock exchange filing on Monday.

Algoquant Fintech Bonus Shares Record Date

According to Algoquant Fintech, the record date to determine the list of shareholders eligible for the distribution of bonus equity shares in a 1:2 ratio is Wednesday, January 8, 2025.

Algoquant Fintech Financials

The company's net sales for the September 2024 quarter were Rs 21.77 crore, up 96.85% from the September 2023 quarter's sales of Rs 11.06 crore. Its net profit in Q2FY25 reached Rs. 1.15 crore, up 165.01% from Rs. 0.43 crore in Q2FY24. EBITDA increased 71.86% from Rs. 1.67 crore in the September 2023 quarter to Rs. 2.87 crore in the September 2024 quarter.

Algoquant Fintech Share Price Target

"Algoquant stock price is bullish & very overbought on the Daily charts with next resistance at 1592. Investors should be booking profits as a Daily close below support of 1479 could lead to a target of 1300 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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