Today is the second consecutive day when the stock has hit an upper circuit. Earlier, the stock had also hit an upper circuit on the previous trading day, January 14. The market was closed on January 15 due to the Maharashtra BMC elections.
The company’s stock traded steady at ₹36.28 on the BSE today. According to BSE data, 10,525 equity shares of the company were traded as of last seen.
This stock has delivered a return of 164%, doubling investors’ money in one year. The stock has returned over 688% in the last two years, over 800% in the last three years, and over 3,000% in the last five years.
Recently, the company had informed in its exchange filing that its board of directors has approved the purchase of 100% stake in Singapore-based Prisha Infotech.
The company stated that the acquisition is expected to be completed within 12 months. The acquisition will be made for US$150,000. According to exchange filings, the company is expanding its focus on technology-based solutions in the food service and hospitality sectors, in line with its long-term strategy of expansion, diversification, and global presence.
The company said that the addition of Prisha Infotech’s software development and programming capabilities will strengthen Spice Lounge’s digital base and facilitate access to international markets through Singapore.
Prisha Infotech specializes in enterprise software, digital platforms, and tech solutions for customer-facing businesses, improving operational efficiency, customer engagement, and data-driven decisions.
In the filing, the company said the acquisition will drive innovation in supply chain management, point-of-sale systems, customer experience platforms and analytics-based operations.