Axiscades Technologies share price hit the 10% upper circuit on Tuesday, 29 September, after a large transaction was reported in the block deal window. According to media reports, this marks the biggest single-day gain for the stock since 1 July 2024.
Around 40.61 lakh shares, representing 9.5% of Axiscades Technologies’ equity, changed hands in the block deal, according to data available on the exchanges. The shares were reportedly transacted at an average price of ₹1,824 apiece, taking the total deal value to around ₹741 crore. The identities of the buyers and sellers were not immediately known.
Promoters hold 58% stake
At the end of the June quarter, Jupiter Capital Pvt. Ltd., the promoter of Axiscades Technologies, held a 58.04% stake in the company, while public shareholders owned 41.97%.
Among public shareholders, mutual funds held 1.45%, while more than 43,000 retail investors with authorised share capital of up to ₹2 lakh collectively held a 20.67% stake. Bodies corporate held another 6.36% stake as of the end of the June quarter.
Axiscades eyes Cloud Wave acquisition
The block deal comes a month after Axiscades Technologies said it was evaluating the acquisition of a 90% stake in Cloud Wave for around ₹254 crore. The company also plans to acquire the remaining 10% stake, according to its announcement, as reported.
Axiscades Tech Q1 Results
Consolidated revenue from operations, including continuing and discontinued operations, reached a quarterly record of ₹346.7 crore in Q1 FY27, registering a 42.2% year-on-year increase and 27% sequential growth.
Revenue from continuing operations stood at ₹183.4 crore. On a like-for-like basis, excluding Add Solutions, which the management plans to exit in FY27, revenue was around ₹181 crore, nearly doubling from approximately ₹90 crore in Q1 FY26.
However, reported profitability remained under pressure. EBITDA stood at ₹27.9 crore, with an EBITDA margin of 8.1%, compared with ₹34.1 crore and a 14% margin in Q1 FY26. The company reported a loss before tax of ₹11.9 crore and a loss after tax of ₹14.8 crore.
The reported profitability was impacted by several one-off items, including ₹11.56 crore in provisions for receivables, primarily related to an aged defence transaction; a ₹3.50 crore hedge provision under discontinued operations; and ₹21.81 crore in divestment-related exceptional costs under discontinued operations.
What lies ahead?
Osho Krishan, Sr. Analyst – Technical & Derivatives at Angel One, said Axiscades Technologies has maintained a strong upward trajectory after consolidating around its 200-day simple moving average near the ₹1,600 level.
The stock subsequently moved higher in a largely linear fashion, trading above key exponential moving averages and previous swing-high resistance, reflecting sustained strength, he said.
Krishan noted that the ₹1,970– ₹1,945 zone could provide support during near-term pullbacks, while the ₹1,840– ₹1,800 range remains a key structural support area. On the upside, the stock could retest the ₹2,170– ₹2,200 zone in the near term, he added. Overall, he maintained a bullish outlook, with declines potentially offering accumulation opportunities.
Rajesh Bhosale, Technical Analyst at My Advisor Alpha, said Axiscades Technologies witnessed a strong gap-up opening, followed by sustained buying, and has also confirmed a rounding-bottom bullish formation. He expects the uptrend to extend towards the ₹2,200 level in the near term, with ₹1,900 emerging as a key support level.
Sudeep Shah, Vice President – Technical and Derivatives Research at SBI Securities, said Axiscades Technologies is forming a higher-high, higher-low pattern on the daily chart and is trading well above its key moving averages, indicating a strong underlying trend. The RSI has rebounded from the 60 level, suggesting that bullish momentum remains intact, while the widening DI lines on the ADX indicator, with DI+ comfortably above DI−, indicate strong bullish control, he said.
Shah identified the ₹1,960– ₹1,950 zone as the immediate support area and said the stock could extend its upmove as long as it sustains above this zone.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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