Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Markets / Stock Markets/  Small cap IT stock declares 1:1 bonus shares, scrip locked in 5% upper circuit
BackBack

Small cap IT stock declares 1:1 bonus shares, scrip locked in 5% upper circuit

With a market valuation of ₹595 Cr, Innovana Thinklabs Ltd. is a small-cap company that operates in the IT industry.

On Friday, the shares of Innovana Thinklabs closed on the NSE at an upper circuit limit of ₹580.90 apiece, up by 5.00% from the previous close of ₹553.25. (REUTERS)Premium
On Friday, the shares of Innovana Thinklabs closed on the NSE at an upper circuit limit of 580.90 apiece, up by 5.00% from the previous close of 553.25. (REUTERS)

With a market valuation of 595 Cr, Innovana Thinklabs Ltd. is a small-cap company that operates in the IT industry. A software and application development company, Innovana Thinklabs Limited has established its presence and popularity in over 126 countries and 13 distinct languages. Its registered office, which is located in Jaipur, Rajasthan, oversees all core business.

The company has said in a stock exchange filing that the Board of Directors has approved “1) Increase in Authorised Capital of the Company from 11,00,00,000/- (Rupees Eleven Crores) divided into 1,10,00,000/- (One Crores Ten Lakhs) equity shares of 10/- (Rupees Ten) each to 21,00,00,000/- (Rupees Twenty-One Crores) by the creation of additional 1,00,00,000 (One Crore) equity shares of 10/- (Rupees Ten) each and consequently, existing clause V of the Memorandum of Association of the Company. 2) Issue of Bonus Shares in the proportion of 1 (One) equity share for every 1 (One) existing equity shares held by the Members."

In FY22, the company recorded a net revenue of 61.92 Cr compared to 60.61 Cr in FY21, representing a growth of 2.16% YoY. The company's net expenses reached 35.58 Cr in FY22 down by 14.76% from 41.75 Cr reported in FY21. Innovana Thinklabs posted a net profit of 21.47 Cr in FY22, up by 38.04% from 15.55 Cr in FY21, whereas the company's operating profit margin and net profit margin stood at 47.36% and 37.28% respectively in FY22. The EPS of Innovana Thinklabs stood at 20.46 in FY22 against 15.48 in FY21

On Friday, the shares of Innovana Thinklabs closed on the NSE at an upper circuit limit of 580.90 apiece, up by 5.00% from the previous close of 553.25. The shares of Innovana Thinklabs are approaching the upper circuit limit since 9th February as per the chart pattern. The stock recorded a total volume of 7,000 shares compared to the weekly average volume of 1,900 shares. The stock price climbed from 89.30 to the current market price during the past five years, resulting in a multibagger return of 492.76%. The stock rose from 121.80 to the current market price during the past three years, resulting in a multibagger return of 435.89%. The stock has appreciated 35% over the past year, but it has dropped 28% during the past month.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 18 Feb 2023, 09:32 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App