Multibagger small-cap stock One Point One Solution rose over 1% on Friday’s session despite weak trends on Dalal Street. One Point One Solution shares rose after the announcement that the Company has established a wholly owned subsidiary called “One Point One Solutions MENA Holdings Ltd.” in the Dubai International Financial Centre (DIFC), UAE.
In a filing to the exchange, the company indicated that the purpose of this subsidiary is to serve as a holding entity to manage, supervise, and invest in other subsidiaries and entities, which will aid the company in enhancing its presence in the global market.
The acquisition cost or the price at which the shares are obtained was that One Point One Solutions Limited has acquired one share with a face value of US$ 10 as the initial share capital, representing 100% of the share capital.
Additionally, the company indicated in a filing that this constitutes a Related Party Transaction and is conducted at Arm’s Length. One Point One Solutions MENA Holdings has been established as a wholly owned subsidiary of One Point One Solutions, aimed at serving as a holding entity to manage, supervise, and invest in subsidiaries and other organizations. This will assist the company in establishing its footprint in the global market.
Technical Views
One Point One Solution share price opened at ₹48.76 apiece on the NSE, the stock touched an intraday high of ₹49.29 per share, and an intraday low of ₹48.50. In the span of five months, the small-cap stock gained 1,750%.
Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, said that if we consider the chart structure of last few months, prices have been stuck in a range , some bottom formation is seen around 45 levels whereas 52 is acting as resistance.
“Next momentum would come once this range is broken. For now wait and watch approach should be considered where a breakout beyond 52 would trigger move towards 60,” said Bhosale.
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