Quicktouch Technologies, a small-cap stock, jumped over 9% on Wednesday after the company announced that its board of directors had issued nearly 32 lakh new shares to promoters and the public. The stock opened at ₹153 and quickly rose to ₹159.50, gaining 9.2% before settling at ₹155 around 10:10 am.
On Tuesday, the company revealed it had allotted 31,72,200 equity shares at ₹144 each to its promoters and public investors, raising a total of ₹45.68 crore. Among the key promoters, BIR Foods & Restaurants Private Limited received 10,00,000 shares, while Genius Townships Private Limited got 4,72,200 shares. This raised Quicktouch’s total paid-up equity capital to ₹9.82 crore.
The stock currently has a market cap of ₹96.57 crore, with its 52-week high at ₹274 and a low of ₹105. Despite recent gains, it is still down 26% year-to-date.
New Announcements and Projects:
- Renewable Energy Initiative: Quicktouch plans to enter the green energy sector by installing solar panels in educational institutions, either through a joint venture or a new subsidiary. This aligns with the company’s goal of promoting sustainability and reducing carbon footprints.
- Incubation Center with Srikaya Foundation: The company will invest ₹10 crore to create an incubation center, providing support like infrastructure, business mentorship, and funding to startups.
- Launch of Digital Yodha: Quicktouch is launching Digital Yodha, a new app to help channel partners sell and promote its products, expanding its market reach and strengthening partnerships.
These initiatives mark a major step forward for Quicktouch in diversifying its business and embracing sustainability.
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