Bonus Shares In 1:2 Ratio: January 08, 2025 Record Date; Stock To Watch & Buy Today?

Algoquant Fintech is a trading firm that is powered by technology. In the Indian Capital Markets, it is among the top players in high-frequency trading and low-risk arbitrage. On January 25, 1962, the firm was formed under the name Hindustan Everest Tools Limited. On November 16, 2022, the name was modified to Algoquant Fintech Limited. Following the Board of Directors' announcement of the record date for 1:2 bonus shares, Algoquant Fintech's shares were trading 0.051% higher on the BSE on Monday at Rs 1,365 per share, with a market capitalisation of Rs 1.99KCr at 12:04 p.m. IST.

Algoquant Fintech Bonus Shares Record Date

"Pursuant to the provision of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, this is to inform you that Wednesday, January 08, 2025 has been fixed as the Record Date for the purpose of determining the list of shareholders eligible for allotment of Bonus Equity Shares in the ratio of 1:2 pursuant to the Scheme of Arrangement among Growth Securities Private Limited ("Demerged Company") and Algoquant Investments Private Limited ("Amalgamating Company") and Algoquant Fintech Limited ("Resulting Company" / "Amalgamated Company") and their respective shareholders and creditors (under sections 230 to 232 read with section 66 and other applicable sections and provisions of the Companies Act, 2013 read together with the rules made thereunder) approved by the Hon'ble National Company Law Tribunal- Ahmedabad dated 3rd October, 2024," said Algoquant Fintech in a stock exchange filing on December 28, 2024.

Algoquant Fintech News Today

"Pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended and in compliance with circular LIST/COMP/01/2019-20 dated April 02, 2019 issued by BSE Limited, this is to inform you that the 'Trading Window' for dealing in the securities of the Company for insiders and designated persons shall be closed w.e.f. January 01, 2025 and shall remain closed till the completion of 48 hours after the declaration of the Unaudited Financial Results of the Company for the quarter ended December 31, 2024. All the Directors, KMPs, Designated Employees/persons, connected persons and their immediate relatives are advised not to deal in the securities of the company either directly or indirectly during the aforesaid period. The date of the Board Meeting to consider the unaudited Financial Results of the Company for the quarter ended December 31, 2024 will be intimated separately in due course," said Algoquant Fintech in a regulatory filing.

Algoquant Fintech Financials

In the September 2024 quarter, the company's net sales were Rs 21.77 crore, rising 96.85% from Rs 11.06 crore in the September 2023 quarter. In Q2FY25, its net profit was Rs. 1.15 crore, growing 165.01% from Q2FY24's Rs. 0.43 crore. In the September 2024 quarter, EBITDA was Rs. 2.87 crore, jumping 71.86% from the September 2023 quarter's Rs. 1.67 crore.

Algoquant Fintech Share Price Target

"Algoquant Fintech stock price is bearish & overbought on the Daily charts with strong resistance at 1400. A Daily close below support of 1330 could lead to a target of 1160 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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