Multibagger IT stock up 109% from 1-year low, record date set for stock split

The company said in a stock exchange filing that “in accordance with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements), 2015, we Dev Information Technology Limited (“The Company”) would like to inform you that the Board of Directors has decided on Friday, 25th November, 2022 as the “record date”, to ascertain the entitled shareholders for the purpose of sub-division of 1 (one) fully paid-up equity share of the company, the face value of which is 10/- (Rupees ten) each, 2 {two) fully paid-up equity shares whose face value is 5/- (Rupees Five Only) each fully paid-up, approved by the Shareholders in its 25th Annual General Meeting dated 30th September, 2022.”

Dev Information Technology Ltd shares closed today 215.00 each, down 3.17% from previous close 222.05. In trading today the stock recorded a total volume of 14,923 shares compared to the 20-day average volume of 42,071 shares. Dev Information Technology listed on the stock exchanges on 17 April 2017 with an issue price of 42 per share, it has since risen to today’s closing price which represents the highest level of nearly 600% in the last 5 years. The stock has given a multibagger return of 473% in the last 3 years and the stock has given a multibagger return of 194.72% in the last 1 year.

On a YTD basis, the stock has gained 61.47% so far in 2022. The stock had touched a 52-week high on NSE. 52-week low of 254.60 (13-Oct-2022) and At 102.50 (25-Feb-2022), it shows that the stock is trading up 15.55% from the high and 109.75% above the low at the current market price. The stock was seen trading below the 5 day, 10 day, 20 day and 50 day SMA but above the 100 day and 200 day Simple Moving Average (SMA) at today’s closing price. For the quarter ended September or Q2FY23, the company posted promoter shareholding of 68.06%, FII holding of 1.81% and public shareholding of 30.12%.