Stock of this IT company has zoomed 166% in last one month

The stock of ASM Technologies was locked in the upper circuit for the 12th straight day, up 5 per cent at Rs 687.50, quoting at an all-time high level on the BSE

Shares of ASM Technologies were locked in the upper circuit for the 12th straight day, up 5 per cent at Rs 687.50, quoting at an all-time high level on the BSE. In the last one month, the stock has surged 166 per cent, while in the past six months, it has zoomed 323 per cent.

Currently, the stock is classified in the X category on the BSE. X group consists of all those stocks that are only listed on BSE. Till 11:28 am; around 91,000 equity shares had changed hands and there were pending buy orders for 3,106 shares on the BSE.

The movement in the share price of the company is purely due to market conditions and is absolutely market driven. The management is in no way connected with any such movement in price, the company had said in a clarification on December 10, 2021.

“Please note, there is no such information or event which is significant and price sensitive, which company may need to disseminate to investors for their information,” it had said. 

ASM Technologies is in the business of engineering and product R&D services. The company's primary reporting segment is geographical as the revenue in non-software related areas is not more than 10 per cent of the total revenue.

For the first half (April-September) of the current financial year 2021-22 (H1FY22), ASM Technologies reported 30.6 per cent year-on-year jump in its consolidated net profit at Rs 7.77 crore. It had posted net profit of Rs 5.95 crore in H1FY21. Revenue from operations grew 52 per cent to Rs 89.34 crore from Rs 58.78 crore.

ASM said the company is increasing its focus on Internet of Things (IoT), Big Data, Artificial Intelligence (AI), Machine Learning (ML), Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR), Mobile Applications, Cloud, Virtualization, Networking, Cyber security and Industry 4.0 (Smart Manufacturing).


“ASM has launched its own patent-pending solution SmartFix 4.0 – a one-of-a-kind solution for the manufacturing industry. SmartFix 4.0 is an industrial AI solution offering a potent combination of world-class hardware, software and data analytics to increase manufacturing yield and throughput. With a robust global client base and a host of strategic partnerships with multiple OEMs, SmartFix is set to deliver value over the next two years,” it said in its FY21 annual report. 

The management said that in coming years ASM will also scale up its investments in many other cutting-edge technologies where the company foresees strong demand including product R&D, engineering services, and design-led manufacturing.