In the IT industry, Magellanic Cloud Limited is a small-cap company with a market value of Rs. 985 crores. One of the top providers of IT services, the firm provides creative solutions globally. The company’s board of directors met on Thursday, July 7, 2022, and recommended a final dividend.
The company said in a BSE exchange filing that “We would like to inform you that the Board of Directors of the Company met today i.e. Thursday, July 07, 2022 and considered, decided and approved the following:”
- Re-appointment of Shri Jagan Mohan Reddy Thumma [DIN: 06554945] as Managing Director for a further period of 5 years, subject to the approval of the members at the ensuing Annual General Meeting;
- Change of registered office from the State of Maharashtra to the State of Telangana, subject to the approval of the members at the ensuing Annual General Meeting;
- Recommend final dividend of 0.50 (ie 5% on face value) per equity share of face value 10/- each fully paid-up company for the financial year ended 31st March, 2022;
- The 41st Annual General Meeting of the Company will be held on Wednesday, the 10th August, 2022 at 11.00 AM (IST) through OAVM (ie through Zoom meeting);
- As per Regulation 42 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books of the Members of the Company shall remain closed from Thursday, 04th August, 2022 to Wednesday, 10th August, 2022 (both days inclusive). for the purpose of the 41st AGM;
- Appointed Shri Deep Shukla, Practicing Company as a Scrutinizer to conduct the entire voting process at the 41st AGM (including e-voting) of the Company and submit report for declaration of results thereof;
closed on stock 350.80 level on Friday, up 2.26% from its previous close 343.05. out of stock 73.60 at its current level during the previous year till July 12, 2021, represents a multibagger return of 376.63 percent. Year-to-date (YTD) performance shows the stock has climbed 75.45, to January 3, 2022 350.80 Jul 8, 3:30 PM IST, represents a multibagger return of 364.94 per cent so far in 2022. received from stock 96.20 as on January 10, 2022, represents a multibagger return of 264.66 per cent, at the current level during the last six months. The stock has gained 5.63 per cent in the last one month. Magellanic Cloud shares hit 52-week high 52-week low of 448.10 and 10/03/2022 37.25 on 15/11/2021, placing the stock 21.82 per cent off its 52-week high and 840.40 per cent up from its 52-week low at the current market price.