Yudiz Shares Slide 5% To Hit Fresh 52-Week Low

SUMMARY

At the time of writing, the stock recouped some of its losses and was trading 2.4% lower from the previous close of INR 51.20 apiece on the NSE

With a drop in its share price, the company’s market capitalisation stood at INR 51.5 Cr at 11:00 AM

The decline in Yudiz’s share price coincided with a slump in benchmark indices

Shares of blockchain and IT development company Yudiz Solutions plunged 5% to hit a fresh 52-week low of INR 48.65 during the intraday trading session on the NSE today (February 18).

At the time of writing, the stock recouped some of its losses and was trading 2.4% lower from the previous close of INR 51.20 apiece on the NSE.

With a drop in its share price, the company’s market capitalisation stood at INR 51.5 Cr at 11:00 AM.

The decline in Yudiz’s share price coincided with a slump in benchmark indices. While Sensex is trading 0.40% lower at INR 75,693.47, Nifty is 0.45% down at 22,855.50

Yudiz Solutions in November last year reported a standalone net profit of INR 5,000 for the first half of the financial year 2024-25 (H1 FY25) as against a profit of INR 1.34 Cr in the year-ago period.

Its operating revenue fell 23% to INR 11.15 Cr during the period under review from INR 15.87 Cr in H1 FY24. However, it increased 6% from INR 10.28 Cr in H2 FY24.

Last month, Yudiz’s chief financial officer (CFO) Zarna Shah tendered her resignation. This is the second major resignation at the company in the last few months. In October last year, Yudiz’s chief supply chain officer (CSCO) Raveena Bohra also put in her papers.

Last year, the company also acquired a 51.01% stake in ABCM App Pvt Ltd to set up a new subsidiary – Insightly Dataworks Pvt Ltd – in September last year. ABCM is a SaaS startup that designs and develops financial software and mobile applications for fintech companies.

Yudiz acquired the company to get access to its financial clients, opening pathways for cross-selling its gaming, blockchain and AI solutions.

Founded in 2011, Yudiz specialises in web and mobile app development and provides services in areas of emerging technologies such as AR/VR, AI/ML, blockchain and IoT.