IT midcap stock hits upper circuit for 14th successive session. Do you own?

ASM Technologies shares started hitting upper circuit after the company’s clarification to the BSE in regard to its stock price rally in December 2021. In its reply to BSE on 10th December 2021, the company had made it clear that uptick in the company’s stock was purely market driven and the management was not concerned with skyrocketing of ASM Technologies share price.

In its reply to the BSE; ASM Technologies company management said, “We wish to inform, the movement in the share price of the company is purely due to market conditions and absolutely market driven and the management of the company is in no way connected with any such movement in price. Also please note, there is no such information or event, which is significant and price sensitive, which company may need to disseminate to investors for their information.”

ASM Technologies management went on to add, “We hereby confirm that the Company has been making disclosures of the entire event or any information that has bearing on the operation or the performance of the company which include any price sensitive information within the stipulated timelines as required under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements), 2015.”

ASM Technologies share price history

In last one month, ASM Technologies share price has risen from around ₹263 to ₹757.45 apiece levels, logging around 185 per cent appreciation in this period. The mid-cap IT stock has given stellar return in last 6 months as it went up from arou7nd ₹175 to ₹757.45 per share levels, logging near 325 per cent rise in this period. Similarly, in last one year, ASM Technologies share price has shot up from ₹97.75 to ₹957.45 per share levels, appreciating around 675 per cent in 2021. So, the IT share is one of the multibagger stocks in 2021.