52-week high alert & 25,000 per cent multibagger returns; Board announced 8:1 bonus share & 1:2 stock split

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52-week high alert & 25,000 per cent multibagger returns; Board announced 8:1 bonus share & 1:2 stock split

The stock has given multibagger returns of 410 per cent in 3 years; 9,500 per cent in 5 years and a whopping 25,000 per cent in a decade.

On Friday, shares of Algoquant Fintech Limited jumped 9.72 per cent and made a new 52-week high of Rs 1,169 per share from its previous closing of Rs 1,065.40 per share. The shares of the company saw a spurt in volume by more than 2 times on the BSE.

Algoquant Fintech Limited has announced a series of significant corporate actions, all subject to shareholder approval. The company plans to increase its Authorised Share Capital from the current Rs 3.5 crore to Rs 30 crore. This expansion will be achieved by creating an additional 13.25 crore equity shares of Rs 2 each, leading to a revised capital structure of 14.90 crore equity shares of Rs 2 each and 20,000 redeemable preference shares of Rs 100 each. Furthermore, the company will undertake a sub-division (split) of its equity shares, changing the face value of each fully paid-up share from Rs 2 to Rs 1, resulting in two equity shares of Rs 1 each for every one existing share. Following this split, Algoquant Fintech Limited also intends to issue bonus Equity Shares in a ratio of 8:1, meaning eight new fully paid-up equity shares of Rs 1 each will be issued for every one existing fully paid-up equity share of Rs 1. The record dates for both the sub-division and bonus issue will be announced at a later time.

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Incorporated in 1983, Algoquant Fintech Ltd, formerly Hindustan Everest Tools Limited, operates as a technology-driven trading firm specialising in financial instruments. The company focuses on low-risk arbitrage and high-frequency trading within the Indian Capital Markets, leveraging sophisticated algorithms at ultra-low latencies. Algoquant is deeply involved in completely hedged derivatives arbitrage, with a strong emphasis on technology development and innovation, combining mathematics, economics, software and advanced hardware for trade and risk management.

The company has a market cap of over Rs 1,700 crore with a PE of 60x, an ROE of 38 per cent and an ROCE of 33 per cent. The stock has given multibagger returns of 410 per cent in 3 years; 9,500 per cent in 5 years and a whopping 25,000 per cent in a decade.

Disclaimer: The article is for informational purposes only and not investment advice.