AXISCADES Technologies stock surged 10 per cent to hit a 52-week high on the NSE, it traded at ₹675 as of 1:40 pm on Friday.

The Bengaluru-based engineering solutions provider had recently acquired EPCOGEN Pvt Ltd for ₹26.25 crore, with an additional three-year earnout of ₹7 crore based on performance.

With this alliance, Axiscades has set its footprint in the energy sector, fortifying its position in the West Asian and North American markets.

According to a stock exchange filing, the board approved raising funds through a QIP of an aggregate amount not exceeding ₹500 crore in November 2023.