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ESDS Shares Hit Lower Circuit for Seventh Consecutive Day
ESDS Software Solution’s share price fell to the daily limit for the seventh day in a row.
On Tuesday, 6 October, it was ₹1,292.15 on the BSE.
Some shares that had been locked from trading became eligible to be traded, but that does not mean their owners sold them.
The stock had fallen over the previous week and two weeks, although it was still higher than a month earlier.
A ratings agency upgraded the company’s ratings, pointing to stronger business and financial measures.
In its June quarter, the company made less profit and revenue than in the previous quarter.
Compared with the same quarter a year earlier, both figures were higher.
ESDS Software Solution shares were locked at the 5% lower circuit at ₹1,292.15 on the BSE on Tuesday, 6 October.
The one-month shareholder lock-in ended Monday, making about 3 million shares, or 2% of outstanding shares, eligible to trade; this does not mean they were sold.
The stock fell 18.55% in a week and 24.15% over two weeks, but was up 44.29% over one month.
Ind-Ra upgraded ESDS’s long-term bank-facility rating to IND A/Stable and short-term rating to IND A1, citing business growth and stronger credit metrics.
In Q1 FY27, profit fell 56% quarter-on-quarter to ₹29.27 crore and revenue fell 20% to ₹133.65 crore; both were higher year-on-year.
- Who
- ESDS Software Solution and its shareholders.
- What
- The shares hit the 5% lower circuit for a seventh consecutive session; about 3 million shares became eligible for trading after the lock-in expired.
- Where
- On the BSE.
- When
- Tuesday, 6 October; the lock-in ended Monday.
- Why
- The articles do not establish why the share price fell. The lock-in expiry made some shares eligible for trading but does not establish that they were sold.
Key facts
- BSE share price
- ₹1,292.15 per share, at the 5% lower circuit
- Lock-in expiry
- About 3 million shares, or 2% of outstanding shares, became eligible to trade
- Recent share performance
- Down 18.55% in one week and 24.15% in two weeks; up 44.29% in one month
- Q1 FY27 profit
- ₹29.27 crore, down 56% sequentially and up 14% year-on-year
- Q1 FY27 revenue
- ₹133.65 crore, down 20% sequentially and up more than 7% year-on-year
- Ind-Ra rating action
- Long-term rating raised to IND A/Stable from IND BBB+/Positive; short-term rating raised to IND A1 from IND A2+
- IPO issue price
- ₹429 per share; the IPO was subscribed 135.88 times on the final bidding day
Sources
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