TCC Concept surged almost 20% to hit its intraday high of ₹58.80 in intraday deals on the BSE on Wednesday, 9 September, despite weak stock market trends. The stock opened at ₹49.45 against its previous close of ₹49.05 and zoomed 20% to ₹58.80, inching closer to its 20% upper circuit of ₹58.85, with a spurt in volume by more than 16.25 times.
In the previous session on 8 September, the stock touched its upper circuit of ₹49.10 after hitting a 52-week low of ₹39.35 during the session.
Why is TCC Concept share price rising?
The fresh traction in stock prices has come after the company announced the merger of its subsidiary with it.
The board of directors of the company on Tuesday, 8 September, approved the amendment to the scheme of amalgamation for the merger of its wholly-owned subsidiary, ALTRR Software Services, by way of absorption into TCC Concept.
The company also announced a stock split of TCC Concept shares. Under the proposal, each ₹10 share will be split into five shares of ₹2 each.
TCC Concept is a diversified technology-driven enterprise focused on building and scaling innovative businesses across AI, digital infrastructure, technology, logistics, e-commerce, and real estate technology.
Additionally, the company also released its annual report for the last financial year (FY26) on 8 September.
During the year, its revenue surged 116% year-on-year (YoY) to ₹179.39 crore, while profit jumped 54% YoY to ₹64.83 crore. Earnings per share (EPS) saw a healthy 19% YoY increase to ₹16.45.
TCC Concept share price trend
The stock has delivered a multibagger return of 363% over the last three years. However, on a shorter timeframes of 1 and 2 years, the stock is down 52% and nearly 60%, respectively.
Year-to-date, the stock is down 50%. The stock hit a 52-week high of ₹137.60 on 9 October last year.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
