NSE SME stock hits 20% upper circuit after incorporation of Singapore subsidiary

livemint.com:

Stock market today: NSE SME stock One Point One Solutions' share price gained on Monday, hitting a record high of ₹47.50 apiece. The stock was locked in the 20 percent upper circuit. The stock has been gaining consistently for nearly 15 days as it has risen from around ₹32 apiece to ₹47.50 apiece in the last two weeks, up around 50 percent during this period.

One Point One Solutions is one of the multibagger stocksin 2023 so far. In Year-to-Date (YTD), this SME stock has risen from around ₹16 to ₹47.50 apiece level, delivering around 200 percent return to its shareholders. However, it seems that the NSE listed stock still has some steam left.

Also Read: Rekha Jhunjhunwala portfolio: DB Realty share price hits 52-week high The company is in focus for incorporation of its wholly owned Singapore subsidiary – One Point One Singapore Pte. Ltd – for the business development of the patent company's products and services in overseas market. After this incorporation, 100 percent of the One Point One Singapore Pte Ltd will be held by One Point One Solutions Ltd.

Also Read: BSE Mid and Small cap indices hit fresh record highs, rallied up to 38% in CY23 “ONE POINT ONE SINGAPOREPTE. LTD.is incorporated as wholly owned subsidiary of ONE POINT ONE SOLUTIONS LTD. for Business development of parent company's products and services in foreign market," said the company.