Daijiworld Media Network – Mumbai
Mumbai, Aug 21: Shares of integrated services firm GACM Technologies continued their strong upward movement on Friday, hitting the upper circuit for the third consecutive trading session and touching a fresh 52-week high.
The stock opened at Rs 0.92 and climbed to an intraday high of Rs 0.94. Its 52-week low stands at Rs 0.40, recorded on March 30, 2026. The company's market capitalisation was around Rs 150.19 crore.
The stock's latest rise came despite volatility in the broader market, with the benchmark Sensex and Nifty trading marginally higher amid elevated crude oil prices and continuing geopolitical uncertainties.
GACM Technologies has gained 70.91% so far this year. Over a five-year period, the stock has delivered a return of 64.91%, while it has declined 30.88% over the past two years.
The company's recent business developments have also drawn attention. GACM Technologies has entered into a software development agreement with Meridian Intelligence, with the pact valued at Rs 15 crore. The partnership is scheduled to remain in effect until September 30, 2028.
The company said the collaboration is expected to help expand its software development capabilities, strengthen its market presence and create new opportunities for growth.
Meanwhile, GACM Technologies has completed its qualified institutions placement (QIP), allotting 49.50 crore equity shares to institutional investors at an issue price of Rs 1 per share. The fundraising has generated Rs 49.50 crore for the company.
The QIP opened on August 13 and closed on August 14 after the company received the application funds in the designated escrow account.
Among the major allottees were Minerva Ventures Fund, which received 14.50 crore shares, and Magnifica Global Opportunities VCC – MGO High Conviction Fund, which was allotted 14 crore shares. AL Maha Investment Fund PCC – Onyx Strategy and Ebisu Global Opportunities Fund each received 10.50 crore shares.
The company said the recent fund-raising and software development partnership are aimed at strengthening its technology capabilities and supporting its future growth plans.