AXISCADES Technologies Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

AXISCADES Technologies announced that CARE Ratings has upgraded its long-term bank facilities at 'CARE A-' with a Stable Outlook and short-term facilities at ‘CARE A2+'. from ‘CARE BBB+- Stable' and ‘CARE A2' respectively.

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Net profit of AXISCADES Technologies reported to Rs 7.43 crore in the quarter ended December 2023 as against net loss of Rs 10.35 crore during the previous quarter ended December 2022. Sales rose 8.46% to Rs 231.48 crore in the quarter ended December 2023 as against Rs 213.43 crore during the previous quarter ended December 2022.

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AXISCADES Technologies will hold a meeting of the Board of Directors of the Company on 14 February 2024.

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The company's board authorized and declared the opening of the issue on Wednesday, 10 January 2024.

The floor price of Rs 696.70 is at a discount of 9.84% to the previous day's closing price of Rs 772.70 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue.

The IT firm has also informed that a meeting of the committee is scheduled to be held on Monday, 15 January 2024 to consider and approve the issue price of the equity shares.

Axiscades Technologies is a leading end to end engineering and technology solutions provider, catering to aerospace, defence, heavy engineering, automotive, energy, medical & healthcare sectors, serving global OEMs.

The company’s consolidated net profit tumbled 47.2% to Rs 11.07 crore in Q2 FY24 as compared with Rs 20.98 crore in Q2 FY23. However, net sales increased 29.8%YoY to Rs 251.46 crore in Q2 FY24.

The scrip hit an all time high of Rs 848 in today’s intraday session.

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