BackNSE SME stock hits 20% upper circuit after incorporation of Singapore subsidiary
Multibagger stock: In Year-to-Date (YTD), this SME stock has risen from around ₹16 to ₹47.50 apiece level, delivering around 200 percent return to its shareholders. However, it seems that the NSE listed stock still has some steam left.
PremiumStock market today: NSE SME stock One Point One Solutions' share price gained on Monday, hitting a record high of ₹47.50 apiece. The stock was locked in the 20 percent upper circuit.
The stock has been gaining consistently for nearly 15 days as it has risen from around ₹32 apiece to ₹47.50 apiece in the last two weeks, up around 50 percent during this period.
One Point One Solutions is one of the multibagger stocks in 2023 so far. In Year-to-Date (YTD), this SME stock has risen from around ₹16 to ₹47.50 apiece level, delivering around 200 percent return to its shareholders. However, it seems that the NSE listed stock still has some steam left.
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The company is in focus for incorporation of its wholly owned Singapore subsidiary – One Point One Singapore Pte. Ltd – for the business development of the patent company's products and services in overseas market. After this incorporation, 100 percent of the One Point One Singapore Pte Ltd will be held by One Point One Solutions Ltd.
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“ONE POINT ONE SINGAPOREPTE. LTD.is incorporated as wholly owned subsidiary of ONE POINT ONE SOLUTIONS LTD. for Business development of parent company's products and services in foreign market," said the company.
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One Point One Solutions Ltd said that incorporation of its Singapore subsidiary has got approval from the Accounting and Corporate Regulatory Authority (ACRA) of Government of Singapore.
In the last one month, this SME stock has delivered over 35 percent return to its shareholders whereas in the last six months, this stock has surged to the tune of 115 percent. In the last five years, it has risen to the tune of 500 percent.
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The SME stock is available for trade on NSE only and its market cap is ₹928 crore. Its current trade volume is 34.77 lakh. Its 52-week high (which is also the record high) is ₹47.50 whereas the 52-week low is ₹14.25 per share.
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