TAC Infosec Surges 16% as US Subsidiary Plans Nasdaq IPO
TAC Infosec's shares rose 5% to Rs 985.70, extending a two-day rally to 15.8%. The surge follows an announcement that its US subsidiary, CyberScope Web3 Security Inc., plans to file for an IPO on the Nasdaq Capital Market. The subsidiary has approved filing a confidential Draft Registration Statement with the SEC. TAC Infosec, which debuted in April 2024, has gained 7% in the last month and 57% over the past year. Veteran investor Vijay Kedia holds a 14.6% stake in the company. Technically, the stock is trading above five of eight key simple moving averages with an RSI of 53.3.
*this image is generated using AI for illustrative purposes only.
Shares of TAC Infosec experienced a significant uptick, jumping 5% to Rs 985.70 in recent trading, extending a two-day rally to an impressive 15.8%. The surge comes on the heels of an exciting announcement from its US subsidiary, CyberScope Web3 Security Inc., regarding plans for an initial public offering (IPO) on the Nasdaq Capital Market.
US Subsidiary's IPO Plans
CyberScope Web3 Security Inc., a wholly owned subsidiary of TAC Infosec incorporated in the Cayman Islands, has approved the filing of a confidential Draft Registration Statement with the US Securities and Exchange Commission (SEC). This move marks a significant step towards the company's goal of listing on the Nasdaq Capital Market, potentially opening up new avenues for growth and investment.
Stock Performance and Investor Interest
TAC Infosec, which made its market debut in April 2024, has been showing strong performance:
- 7% gain over the last month
- 57% increase over the past year
The company has caught the attention of veteran investor Vijay Kedia, who holds a substantial 14.6% stake in TAC Infosec. Notably, this makes TAC Infosec one of only three stocks in Kedia's portfolio where his holding exceeds 10%, potentially signaling strong confidence in the company's prospects.
Technical Analysis
From a technical perspective, TAC Infosec's stock is showing signs of short-term strength:
- Trading above five of its eight key simple moving averages
- Relative Strength Index (RSI) stands at 53.3
These indicators suggest positive momentum in the stock's recent trading activity.
About TAC Infosec
TAC Infosec is a cybersecurity firm that has been gaining traction in the market since its listing. The company's move to list its US subsidiary on the Nasdaq Capital Market could potentially enhance its global presence and access to international investors.
As the cybersecurity landscape continues to evolve, TAC Infosec's strategic moves, including the potential Nasdaq listing of its subsidiary, may position it for further growth in the dynamic digital security sector.
Historical Stock Returns for TAC Infosec
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.00% | +21.54% | +21.58% | -14.64% | +47.43% | +256.86% |
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