Introduction:
IT stock will host a board meeting via video conference on November 25, 2024. Key agenda items include the appointment of a new director and proposals for share subdivision, addressing crucial management decisions.
Share price movement of Dev Information Technology Ltd:
On 22 November 2024, Dev Information Technology Ltd opened at ₹159.75, up significantly from the previous close of ₹152.65. The stock peaked at ₹168.10 and dipped to ₹156.50 before closing sharply higher at ₹160.20, reflecting a 7.55% increase. The company’s market cap stands at ₹368.75 crores.
Dev Information Technology Ltd to consider stock split:
Dev Information Technology Limited has scheduled a board meeting on November 25, 2024, to address several key agenda items. The meeting will include discussions on appointing a new Independent director to replace Mr. Jatin Yagneshbhai Trivedi, who resigned in September, and proposals for the sub-division of the company’s shares.
Further topics for the board meeting are setting the specifics for an Extraordinary General Meeting (EGM), deciding on cut-off dates for e-voting, and appointing a Scrutinizer for the EGM voting process. These decisions are critical as the company plans strategic changes and compliance with corporate governance standards.
In response to these governance activities, the trading window for company insiders will be closed from November 22 to November 27, 2024, under SEBI regulations to prevent insider trading. This measure ensures that all procedural changes, including the potential stock split discussed, are handled transparently and fairly.
Also Read: Smallcap stock jumps 6% after it receives order from Prestige Mulund Realty
Recent news About Dev Information Technology Ltd:
On November 14, 2024, Dev Information Technology Ltd announced strong Q2 FY25 results, showing significant financial growth with a focus on expanding into IoT and cybersecurity, and planning to enhance its North American market presence
Stock performance of Dev Information Technology Ltd for Period of 1 week, 6 months and 1 year:
Over the past week, Dev Information Technology Ltd’s stock declined by 4.56%. However, looking at a longer timeframe, the stock shows a positive trajectory, rising 30.0% over the past six months and achieving an 18.7% increase over the past year.
Also Read: IT stock jumps after LIC increases stake in the company by 2%
Shareholding pattern of Dev Information Technology Ltd:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 68.73 | 70.2 | 70.2 |
| FII | 1.45 | 0 | 0 |
| Retail & others | 29.82 | 29.8 | 29.8 |
About Dev Information Technology Ltd:
Dev Information Technology Ltd specialises in providing comprehensive IT solutions, including software development, IT consulting, and system integration services. The company focuses on leveraging digital technologies to enhance enterprise efficiency and transform business operations.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
