Now Reading: ACI Infocom hits upper circuit for sixth session on aviation pivot plan
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ACI Infocom hits upper circuit for sixth session on aviation pivot plan
ACI Infocom hits upper circuit for sixth session on aviation pivot plan
Shares of ACI Infocom Ltd hit the 5% upper circuit for the sixth straight session on Tuesday, touching an intraday high of ₹2.58 despite a weak trend on Dalal Street where the…
Shares of ACI Infocom Ltd hit the 5% upper circuit for the sixth straight session on Tuesday, touching an intraday high of ₹2.58 despite a weak trend on Dalal Street where the Nifty 50 and BSE Sensex both traded lower.
The penny stock's rally comes as the company pursues an aviation-focused transformation. The board has called an extraordinary general meeting on 9 September 2026 to seek shareholder approval for altering its objects clause to enter aviation and allied sectors including air transport, drones, eVTOL aircraft and airport infrastructure.
Proposed acquirers Sanjay Natvarlal Mandavia and Rupal Sanjay Mandavia have made an open offer to buy up to 3.70 crore equity shares, representing 26% of the voting capital, at ₹1.53 per share under SEBI takeover regulations. The transaction is subject to shareholder and regulatory approvals.
Indian Opinion Analysis
The story follows a familiar pattern on Indian bourses: a penny stock rallies on a corporate restructuring announcement, even as the broader market weakens. ACI Infocom's proposed pivot to aviation, covering drones, eVTOL aircraft and airport infrastructure, is an ambitious shift for a company with a sub-₹5 share price. Shareholders will vote at the EGM on 9 September 2026 whether to endorse the object-clause change and the open offer at ₹1.53 per share. The key test is whether the acquirers can secure the necessary approvals from regulators including SEBI and DGCA, and raise the capital such a capital-intensive sector demands. The stock's six-session circuit run reflects speculative optimism, the gap between the open offer price and the current market price of ₹2.58 suggests the market is pricing in a successful turnaround, a gamble that hinges entirely on execution.
Source: livemint.com
This story was synthesised by AI from the source linked above.
