This stock has been a multibagger for long-term investors. Over the past five years, it has delivered returns of over 113.30 per cent.
Shares of smallcap IT company Kellton Tech Solutions are in focus today as the company has informed exchanges about the issuance of Foreign Currency Convertible Bonds (FCCBs). This decision follows a key decision taken by the company’s board on Saturday, November 1. Following these updates, the shares began the trading session in the green at Rs 22.38, up from the previous close of Rs 22.02 on the BSE. While it gained to touch the intraday high of Rs 22.39, it later fell to hit a low of Rs 21.26. Last seen, it was trading at Rs 21.50, with a 2.36 per cent fall. The market cap of the company stood at Rs 1,113.15 crore. The 52-week high of the stock is Rs 35.50, and the 52-week low is Rs 19.01.
The stock has been losing for the last two days and has fallen 3.2 per cent in the period. Technically, the stock trades higher than the 5-day moving averages but lower than the 20-day, 50-day, 100-day and 200-day moving averages.
Issuance of Foreign Currency Convertible Bonds
The company stated that its board of directors has approved the issuance of Foreign Currency Convertible Bonds in the amount of up to USD 40 million (approximately Rs 335 crore). “The Board of Directors of Kellton Tech Solutions Limited has approved the issuance of Foreign Currency Convertible Bonds (FCCBs) up to $40,000,000 in its meeting,” the filing reads.
According to BSE Analytics, the stock has declined approximately 8.55 per cent over the past month. However, it has gained approximately 2.29 per cent over the past six months. This stock has been a multibagger for long-term investors. Over the past five years, it has delivered returns of over 113.30 per cent.
Receives project from the United Nations
The company recently announced that the United Nations Population Fund (UNFPA) has selected Kellton Tech to build next-generation AI solutions that will impact the world.
Under this contract, it will design and develop applications based on Generative AI that will further strengthen digital innovation and people-centred transformation across UNFPA’s programs worldwide.
