Alankit in the limelight

Alankit, a small-cap stock announced yesterday after market closure that it has been appointed as E-KYC User Agency (KUA) for the usage of Aadhaar Authentication Services provided by UIDAI to provide Aadhaar Enabled Services to Company beneficiaries, clients and customers.

Six days ago, the company announced that it has been appointed as an Application Service Provider (ASP) with NSDL e-governance Infrastructure Ltd. (NSDL e-Gov) for eSign Services and thus entered into an agreement with the NSDL e-Governance Infrastructure Limited for the same.

And a week before that it said that it has successfully qualified for becoming a GST Suvidha Providers (GSPs).

All these “updates” from the company have kept the counter pretty busy and the stock price has risen slowly this month. Today, it was up over 6% at Rs.34.95 with its 52-week low being at Rs.42.70.

With a market cap of Rs.475 crore, the low promoters stake at 24.34% does not instill any confidence. The company is engaged in UID Enrolments and Smart Card Data Management Services and it had ended Q2FY17 with a net sales of Rs.19 crore and net profit at less than Rs.2 crore.