Goldstone Tech hits 5% UC

Goldstone Technologies opened over 4.5% higher today at Rs46.55 and soon rose to hit the 5% UC of the day at Rs.46.70 where it now remains frozen.

The stock price hit the ceiling as the company announced that it has completed the acquisition of Equitas Technologies , popularly known as "Wow trucks".

This was done through acquisition of 99.62% stake from Equitas Holdings and balance 0.38% stake from an Individual shareholder, MVP Mohan Sharma.

This acquisition will help Goldstone foray into the e-commerce and fintech space as Equitas Technologies is an existing aggregator of trucks/logistics provider having substantial presence in Southern India region with 30,000 plus registered users.