Significant Surge for TAC Infosec Shares Following Bonus Announcement
On Friday, October 10, shares of TAC Infosec Ltd, a cybersecurity firm backed by Vijay Kedia, experienced a notable increase, ascending 5% to reach a peak of ₹1,315 on the National Stock Exchange (NSE).
This upward movement followed the company’s announcement of a one-for-one bonus issue of fully paid equity shares, each valued at ₹10.
The decision was ratified with shareholder approval during the firm’s 9th Annual General Meeting held on September 30, subsequently receiving the endorsement of the National Stock Exchange of India.
The record date to ascertain eligible shareholders has been slated for October 15, with the anticipated credit of the bonus shares set for October 16. Trading for these new shares is expected to commence on October 17, adhering to guidelines issued by the Securities and Exchange Board of India (SEBI).
Strong Financial Trajectory Underpins Stock Surge
This strategic maneuver aligns with TAC Infosec’s robust financial performance. In the latter half of FY25, the firm reported an impressive 157% year-on-year surge in revenue, concomitantly witnessing a doubling of net profit within the same timeframe.
Over the past year, the stock has emerged as a standout performer on the SME platform, appreciating nearly 195%.
Trishneet Arora, the founder and CEO of TAC Infosec, articulated that the bonus issue signifies a steadfast belief in the company’s foundational strengths and its growth trajectory.
He further elaborated on the firm’s global expansion initiatives, emphasizing investments in innovation and talent cultivation as integral components of its long-term strategy.
A Forward-Thinking Capital Investment Plan
During the recent AGM, the company disclosed intentions to allocate $100 million towards capital expenditures by the year 2030. This investment is aimed at enhancing its artificial intelligence-led cybersecurity proficiencies while establishing research and development hubs across diverse regions, including India, the United States, Canada, Europe, and Southeast Asia.
A Global Presence and Ambitious Future Endeavors
TAC Infosec currently serves over 6,000 clients in more than 100 countries, comprising notable global technology giants such as Apple, Microsoft, Google, AWS, and Adobe.
The company has emerged as the fifth-largest vulnerability management entity worldwide and is pursuing a Nasdaq listing for its U.S. subsidiary, CyberScope, which has recently finalized a USD 1 million global order.
Innovative Product Offerings and Certifications
Continuing its commitment to innovation, TAC is expanding its AI-first product suite, which includes offerings like Socify.ai, a pay-after-compliance platform, and its flagship Enterprise Security in One Framework (ESOF).
Additionally, the firm has achieved several critical certifications, including SOC 2, ISO 17025, CREST Accreditation, and iOXT Authorization.
As of around 3:25 PM, TAC Infosec shares were trading at ₹1,295, marking a 3.5% increase from the previous close on the NSE. Notably, the shares have risen by 30% over the past three months.
Source link: M.economictimes.com.
