Despite the fall in the market, IT shares worth Rs 20 saw a tremendous rise today. Despite the selling in the market, shares of Bartronics India jumped by 10 percent.
The stock Bartronics India opened with a sharp rise of 10% at ₹20.11 on NSE, which is the upper circuit of the day. A total of 10.46 lakh shares were transacted. The market cap of this company is only Rs 615 crore. Its 52 week high is Rs 28 and low is Rs 15 per share.
Why did the stock run away?
Bartronics India Limited is an IT Services and Business Solutions company. Buying in the stock was seen after the company announced the signing of a memorandum of understanding (MOU) with TPW Global, a Singapore-based semiconductor solutions company.
We would like to inform you that a meeting of the board of directors of the company will be held on Wednesday, January 08, 2025, Bartronics India said in its regulatory filing. In which the signing of a Memorandum of Understanding (MOU) with TPW Global, a Singapore-based semiconductor solutions company, will be approved.
FIIs played stakes in the shares of this company in the September 2024 quarter. The promoters’ stake is around 85.57 percent. The company’s Return on Equity (ROE) is 8.17% while Stock P/E
228, which shows quite high valuation.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.