Penny Stock Update: 3i Infotech locks in upper circuit

The share price of 3i Infotech is up by 5 per cent and is seen locked in upper circuit on Tuesday. The stock is trading at Rs 7.41 per share on an intraday basis. 3i Infotech was locked in the lower circuit after it touched Rs 6.71 per share, in the early morning trade.

3i Infotech features in the ASM LT Stage 4 surveillance. 3i Infotech saw a spurt in volume by more than 1.13 times on Tuesday as teh stock hit both lower circuit and upper circuit on Tuesday.

The stock is in news as it is expected that the suspension of trading in equity shares of 3i Infotech Limited will happen from 30 August. The stock is expected to relist on bourses in 3 to 6 months from now. At what price the stock will get relist is not known and hence the higher volatility reflects the conflicting views of bulls and bears in the counter. 

The free float market capitalization of 3i Infotech is Rs 1006.27 crore. The PE ratio stands at 3.54 while the RoE is 38.72 for 3i Infotech. 

3i Infotech has slipped by ~20 per cent in one month however the stock is up by ~9 per cent in 2021 alone while in one year the stock has almost doubled.