NSE SME Stock One Point One Solutions Surges 20% on Incorporation of Singapore Subsidiary

One Point One Solutions, an NSE SME stock, continues to shine in the Indian stock market, emerging as one of the top-performing stocks in 2023. Year-to-Date (YTD), the SME stock has witnessed an impressive rise from approximately ₹16 to ₹47.50 per share, delivering a remarkable 200% return to its positional shareholders.

Intraday Surge and Record High: Today, One Point One Solutions’ share price opened on a positive note, reaching an intraday high of ₹47.50 per share, hitting the 20% upper circuit and establishing a new lifetime high. The stock has been on an upward trajectory for nearly two weeks, surging from around ₹32 to ₹47.50 per share during this period, yielding a substantial 50% return in a short span.

Key Development – Singapore Subsidiary: One Point One Solutions is currently in the spotlight due to the incorporation of its wholly-owned Singapore subsidiary, One Point One Singapore Pte. Ltd. The company is acquiring this subsidiary to facilitate the business development of its patented products and services in the overseas market. Following the incorporation, One Point One Solutions Ltd will hold 100% of the shares of One Point One Singapore Pte Ltd.

Approval from Regulatory Authority: The company has officially informed about the successful incorporation of its Singapore subsidiary, stating, “ONE POINT ONE SINGAPORE PTE. LTD. is incorporated as wholly-owned subsidiary of ONE POINT ONE SOLUTIONS LTD. for Business development of parent company’s products and services in foreign market.” The incorporation has received approval from the Accounting and Corporate Regulatory Authority (ACRA) of the Government of Singapore.

Impressive Stock Performance: In the last month alone, this SME stock has delivered over a 35% return to its shareholders. Over the past six months, the NSE-listed stock has surged by an impressive 115%. Year-to-Date, the multibagger SME stock has provided a substantial 200% return, while over the last five years, it has seen a remarkable rise of 500%.

Market Details: One Point One Solutions is exclusively available for trade on NSE, with a market cap of ₹928 crore. The current trade volume stands at 34.77 lakh, with approximately two and a half hours of trading left today. The stock’s 52-week high is ₹47.50, and its 52-week low is ₹14.25 per share.