Affle India stock fell over 4% today after the firm said it would consider consider and approve split of equity shares on August 26.The stock touched an intraday low of Rs 3,840, down 4.3% on BSE.
Later, the stock ended 3.70% lower at Rs 3,864 against previous close of Rs 4,012.45 on BSE.
Affle India stock has fallen 7.8% in the last 5 days. Affle India share stands lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
In one year, the share has fallen 66.79% and risen 2.12% since the beginning of this year.
Total 0.18 lakh shares of the firm changed hands amounting to turnover of Rs 7.22 crore on BSE.
A stock split leads to increase in liquidity of the stock. The stock also gets more affordable for retail investors since the company divides the existing shares into new shares.┬а However, market cap of the firm remains the same.
Shares of Affle India got listed in 2019 on BSE and NSE.┬а The shares have surged sharply from issue price of┬а Rs 745.
On March 5 this year, the stock hit 52-week high of Rs 6,287 and 52 week low of Rs 2,086 on August 21, 2020.
Since March’s high, the share has fallen 38.55% till date.
In Q1 of the current fiscal, net profit rose 90% to Rs 35.73 crore against Rs 18.77 crore in the corresponding quarter of previous fiscal.
Net sales rose 69.85% to Rs 152.47 crore┬а in June quarter against Rs 89.77 crore profit in the corresponding quarter of previous fiscal.
Post Q1 earnings,┬а brokerage Sharekhan┬а said in a note,” Increasing direct customers’ revenue contribution and partnerships with OEMs would help Affle to maintain its market position given higher access to first-party data; expect revenue/earnings to post a CAGR of 45%/32% over FY2021-FY2024E.”
“We maintain a Buy on Affle (India) Limited with a revised price target of Rs 6,000, given greater adoption of its platforms, a unique CPCU business model and expansion into new geographies, the brokerage added.
Affle India is a global technology company with proprietary consumer intelligence platform that delivers consumer acquisitions, engagements and transactions through relevant mobile advertising.
