Indian Infotech & Software surged 4.17% to Rs 1 at 11:29 IST on BSE ahead of board meeting today, 29 December 2014, to seek approval of the board in order to make an application with RBI to avail license for company to act as small finance bank.
The announcement was made during market hours today, 29 December 2014.
Meanwhile, the S&P BSE Sensex was up 216.45 points or 0.79% at 27,458.23.
On BSE, so far 11.58 lakh shares were traded in the counter as against average daily volume of 27.55 lakh shares in the past two weeks.
The stock hit a high of Rs 1.02 and a low of Rs 0.93 so far during the day. The stock had hit a 52-week high of Rs 28.50 on 26 December 2013. The stock had hit a 52-week low of Rs 0.92 on 26 December 2014.
The stock had underperformed the market over the past one month till 26 December 2014, declining 50.26% compared with Sensex's 4.03% fall. The scrip had also underperformed the market in past one quarter, sliding 38.06% as against Sensex's 2.31% rise.
The small-cap company has equity capital of Rs 100.34 crore. Face value per share is Re 1.
Indian Infotech & Software's consolidated net profit surged 616.66% to Rs 1.29 crore on 88.74% decline in net sales to Rs 2.14 crore in Q2 September 2014 over Q1 June 2014.
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