GACM Technologies Ltd (NSE: GATECH) Penny Stock: GACM Technologies saw turmoil during trading intraday today Tuesday 10 September.
Today, GACM Technologies’ shares have reached both lower and upper circuits of 5 percent.
The stock was trading at 1 rupees which was lower than the previous closing price of 1.50 rupees but then rose 4.7 percent before reaching the upper range at 1.57 rupees.
But, it fell 4.7 percent in the course of the course of the day and slipped into the lower end of the circuit at 1.43 rupees. At about 1 PM it was 3.33 percent higher, at 1.55 rupees.
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Promoter Increased Stake
The increase in share of the company has been announced in the filing for exchange.
The promoter group and the promoters have set a goal for their investment in the business to grow up to 13 percent this year.
GACM Technologies said in an exchange filing the market hours on Monday, September 9th, that they were delighted to inform us about the plans of promoters, and promoters of the company are planning to raise their share of the business to 13 percent in the next year.
This move is a sign of the firm belief by the promoters and promoters group in the potential growth of the business and their determination to increase the value of shareholders.
Shares Condition
The stock fell 4.5 percent throughout Monday’s trading, a third consecutive day of decline. The stock has increased by more than 75 percent over the past year.
It reached its 52-week high of 2.52 rupees on the 17th of January this year, as well as it hit its lowest 52-week level of 0.84 rupees on the 11th of September, last year.
In the meantime, Indian stock market benchmarks such as the Sensex and the Nifty 50 traded up on Tuesday. They were up by more than half a percent.
Quick Fact
| Company name | GACM Technologies |
|---|---|
| Intraday movement | Both lower and upper circuits of 5% |
| Lowest price of the day | ₹1.43 |
| Highest price of the day | ₹1.57 |
| Opening price | ₹1 |
| Previous closing price | ₹1.50 |
| Price at 1 PM | ₹1.55 |
| Promoters’ goal | Increase stake to 13% this year |
| Promoters’ belief | Strong potential for growth |
| Monday’s price drop | 4.5% |
| Price increase in the last year | 75% |
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