Shares of Affle India Ltd are in news today after the company's board approved an issue of 69 lakh fully paid up preference shares having face value of Rs 2/- each aggregating to an amount not exceeding Rs 749.02 crore. The allotment of preference shares will be done at a price of Rs 1085.54 per equity share, 6 percent higher to the previous close of Rs 1025 on BSE.
The issuance of shares will be subject to shareholders’ approval, the company said in communication to BSE. Post the issuance of shares, Gamnat Pte., which is a unit of the Government of Singapore, will own a 4.92% stake in Affle India.
Affle India stock opened lower at Rs 1016.65 in early deals today against the previous close of Rs 1025 on BSE. Total 2962 shares of the firm changed hands amounting to a turnover of Rs 29.91 lakh. Market cap of the firm fell to Rs 13,420 crore on BSE. The stock is neither oversold nor overbought on technical charts with its relative strength index (RSI) at 33.9. It has a low volatility of 0.8 in a year.
Affle India shares are trading lower than 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
The stock has lost 15% in one year and fallen 6.6% since the beginning of this year. The share hit a 52-week high of Rs 1300 on November 18, 2022 and a 52-week low of Rs 875.25 on May 15, 2023.
The global technology firm reported a 21.4% rise in its profit after tax at Rs 66.4 crore in the April-June quarter of this fiscal. The company promoted by Singapore-based Affle Holdings clocked a profit after tax of Rs 54.5 crore in Q1 of FY23.
Consolidated revenue from operations rose 17% to Rs 406.6 crore Q1 as compared to Rs 347.5 crore in the year-ago period. Earnings before interest, tax, depreciation and amortization (EBITDA) climbed to Rs 78.1 crore during the first quarter of this fiscal, up 13.7% from Rs 68.7 crore in the year-ago quarter.
Affle India is engaged in providing mobile advertisement services through information technology and software development services for mobiles. The consumer intelligence-driven firm transforms advertisements into recommendations helping marketers connect with their target audience.
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