Stock market news: One Point One Solutions acquires its subsidiary, shares reach the highest circuit

Over the past six months, One Point One Solutions has achieved a positive return of 113.48 percent. In the past year. the scrip has delivered a multibagger return of 212.50 percent.

Stock market news: Shares of One Point One Solutions rose 20 percent on Monday to hit a high of Rs 47.50. Shares of One Poin One opened higher at Rs 41.50 per piece and subsequently touched an intraday high of Rs 47.50 on the National Stock Exchange (NSE), registering a 20 percent rise from the closing price of Rs 39.60 each on Friday.

The scrip’s share price rose after the company announced the establishment of a wholly owned subsidiary, incorporated as One Point One Singapore Pte. Ltd. in Singapore with an initial investment of 1 Singapore dollar in the share capital of said company.

“In accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosures Regulations) Regulations, 2015 (‘SEBI Listing Regulations’), herewith is an explanation regarding the incorporation of a wholly owned subsidiary incorporated as One Point One Singapore Pte. Ltd. in Singapore with an initial investment of 1 (one) Singapore dollar in the share capital of the said company. For detailed information, please refer to Appendix A,” the company said in an exchange filing.

Over the past six months, One Point One Solutions has achieved a positive return of 113.48 percent. In the past year. the scrip has delivered a multibagger return of 212.50 percent. So far this year, One Point One Solutions has achieved a positive return of 197.81 percent.