11 hours ago
Penny stock below Re 1 hits upper circuit after THIS acquisition update
GACM Technologies share price hit 5% upper circuit on Wednesday after the company announced the acquisition of 30% stake in education technology firm WEXL Edu Private Limited. The penny stock was locked-in at 5% upper circuit of ₹ 0.99 apiece on the BSE.
GACM Technologies said it has entered into a definitive agreement to acquire a 30% equity stake in WEXL Edu Pvt Ltd, an emerging AI-driven EdTech and education data company with rapidly expanding government and institutional presence.
WEXL is an education technology firm engaged in delivering AI-enabled academic solutions across India. It focuses on scalable, personalized learning and assessment platforms with national-level implementation potential.
It has over ₹ 30 crore confirmed order book including ₹ 25 crore from Delhi Government and ₹ 5 crore from Tamil Nadu Government, GACM Technologies said in a regulatory filing on June 25.
The transaction delivers multiple strategic and financial advantages to GACM Technologies, including diversification into High-Growth EdTech Sector, access to Nation-Scale Opportunities, IP-Driven expansion strategy, financial upside from margins and scale, and alignment with National Digital Vision.
WEXL's operating margins in secured projects exceed 80%, and the company runs an extremely lean model with scalable digital delivery infrastructure, GACM Technologies said.
GACM Technologies share price has gained 25% in one month and more than 52% in three months. On a year-to-date (YTD) basis, the penny stock has rallied 27%, while it has fallen 5% in the past one year. However, GACM Technologies shares have jumped 68% in three years and delivered multibagger returns of 120% in the past five years.
At 12:35 PM, GACM Technologies share price was still locked at 5% upper circuit of ₹ 0.99 apiece on the BSE.
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