IT stock Adroit Infotech hits 52-week high, counter up 38% in one month

Adroit Infotech, an IT-enabled services company, on Monday retreated after hitting a 52-week high. According to exchange data, the small-cap stock opened sharply higher at a new 52-week high of Rs 35.35, up more than 17 per cent. 

The counter, however, erased the gains as it started trading in red. Around 3 PM, the IT stock was seen trading at Rs 28.80, down by nearly 4.50 per cent. It touched an intraday low of Rs 27.70. It finished near day's low at Rs 27.80 as profit booking dragged the counter.

Today's fall in the stock is the first such decline after five days of consecutive gains. According to the shareholding pattern, promoters own a majority stake in the company at 50.01 per cent.

Adroit Infotech share price history

According to exchange information, Adroit Infotech shares have climbed 38.38 per cent in the past one month. In two years, it has delivered a multibagger return of 166.48 per cent. In three years, the IT stock has rallied more than 500 per cent.

Earlier in June this year, Adroit Infotech, an IT service management company, had obtained listing approval from BSE and NSE for the issue and allotment of 10 lakh equity shares by way of conversion of loan into equity shares.

Meanwhile, Sensex snapped its record 11-day winning run and declined by around 242 points on Monday as profit-taking in metal, banking and telecom shares amid weak global trends dragged down the benchmark index from record-high levels.

The 30-share BSE Sensex fell by 241.79 points or 0.36 per cent to settle at 67,596.84 in a volatile trading. During the day, it declined by 305.8 points or 0.45 per cent to a low of 67,532.83.

Retreating from its all-time high, the broader Nifty closed at 20,133.30, down by 59.05 points or 0.29 per cent, as 26 of its constituents closed in the red while 24 advanced. BSE Sensex closed at a life-time high of 67,838.63 after 11 straight days of gains while Nifty settled at record 20,192.35 on Friday following positive macro data.