2 hrs ago
Axiscades Technologies Shares Hit Upper Circuit After Block Deal
Axiscades Technologies’ share price rose by the maximum 10% allowed in one trading session.
This happened after many shares were traded together in a large block deal.
The deal involved about 9.5% of the company.
The people or groups who bought and sold the shares were not publicly known at first.
Axiscades is also considering buying most of a company called Cloud Wave.
In its latest quarter, Axiscades reported much higher revenue than a year earlier.
However, it still made a loss after taxes.
Analysts who study charts believe the share price could continue rising, but the company’s profitability remains a concern.
Axiscades Technologies shares rose 10% to the upper circuit on Tuesday, 29 September, after a large block transaction.
About 40.61 lakh shares, or 9.5% of the company’s equity, changed hands at an average price of ₹1,824 per share.
The transaction was valued at approximately ₹741 crore, but the buyers and sellers were not immediately identified.
Axiscades is evaluating the acquisition of a 90% stake in Cloud Wave for around ₹254 crore, with plans to acquire the remaining 10%.
Q1 FY27 revenue reached a record ₹346.7 crore, but the company reported a ₹14.8 crore loss after tax and an 8.1% EBITDA margin.
- Who
- Axiscades Technologies; the buyers and sellers in the block deal were not immediately identified; technical analysts cited in the report.
- What
- The company’s shares hit a 10% upper circuit after a block deal involving 9.5% of its equity.
- Where
- The transaction was reported in the stock-exchange block deal window.
- When
- Tuesday, 29 September; the reported operating results relate to Q1 FY27.
- Why
- The share price rose after the large transaction, while analysts also pointed to strong technical momentum.
Fundamental Concerns
Technical Optimism
Profitability versus revenue growth
Fundamental Concerns
Despite record quarterly revenue, reported profitability was pressured by provisions and exceptional costs, leaving the company with a ₹14.8 crore loss after tax and an 8.1% EBITDA margin.
Technical Optimism
Revenue increased sharply, including near-doubling on a like-for-like continuing-operations basis, which supports the company’s growth outlook.
Near-term share-price outlook
Fundamental Concerns
The reported loss and unresolved details about the block-deal participants provide reasons for caution about the stock’s fundamentals.
Technical Optimism
Analysts cited a higher-high, higher-low pattern, strong moving-average positions and bullish indicators, with potential upside toward ₹2,200.
Key price levels
Fundamental Concerns
A break below the analysts’ identified support zones could weaken the current upward trend.
Technical Optimism
Analysts identified support levels between ₹1,900 and ₹1,960, and said declines could offer accumulation opportunities if those levels hold.
Key facts
- Share-price move
- 10% upper circuit
- Block-deal volume
- Approximately 40.61 lakh shares
- Block-deal stake
- 9.5% of Axiscades Technologies’ equity
- Average transaction price
- ₹1,824 per share
- Estimated deal value
- Approximately ₹741 crore
- Q1 FY27 revenue
- ₹346.7 crore, up 42.2% year on year
- Q1 FY27 net result
- Loss after tax of ₹14.8 crore
Sources
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