Shares of integrated services firm GACM Technologies have been in the action despite market volatility. The stock has hit the upper circuit for the third consecutive session today. The penny stock opened in the green at Rs 0.92 and gained further to hit the intraday high of Rs 0.94. This is also the counter’s fresh 52-week high. The 52-week low of the counter is Rs 0.40, touched on March 30, 2026. The market cap of the company stood at Rs 150.19 crore. The stock hit a fresh high even as the benchmark equity indices Sensex and Nifty traded marginally higher on Friday amid elevated crude oil prices due to geopolitical uncertainties.
While the stock has returned 64.91 per cent over five years, it has corrected 30.88 per cent over two years. On a year-to-date (YTD) basis, it has gained 70.91 per cent.ย
Signs software development pact
Technology and consultancy company GACM Technologies recently announced that it has signed a pact to improve its software development portfolio. In a statement, the company said it has signed a pact with Meridian Intelligence, valued at Rs 15 crore. The partnership between the two companies will continue until September 30, 2028.
“We are confident that this association will enable us to deliver scalable technology solutions, strengthen our market presence and unlock new opportunities for sustainable growth,” the company stated.
Allots 49.5 crore equity shares
Meanwhile, the company has completed its qualified institutions placement (QIP) fundraising round, allotting 49,50,00,000 equity shares to institutional buyers. The allotment was made after the board of directors of the fundraising committee approved the allotment at an issue price of Rs 1 per equity share with a face value of Rs 1 each, raising an aggregate of Rs 49.50 crore.
The issue opened on August 13, 2026, and closed on August 14 following receipt of application funds in the designated escrow account.
Four overseas funds were among the major allottees: Minerva Ventures Fund received 14.50 crore shares, Magnifica Global Opportunities VCC โ MGO High Conviction Fund received 14 crore shares, AL Maha Investment Fund PCC โ Onyx Strategy and Ebisu Global Opportunities Fund each received 10.50 crore shares.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)