Shares of GACM Technologies hit the 8.7% upper circuit on the National Stock Exchange on Monday, driven by investor enthusiasm over a new strategic partnership.
The company, whose stock trades below ₹1, announced the execution of a memorandum of understanding with Meridian Intelligence Private Limited to strengthen its software development operations.
In an exchange filing dated August 3, GACM Technologies described the agreement as a significant milestone in its growth trajectory.
The market reaction underscores the continued speculative interest in Indian penny stocks, where small-cap names often see sharp repricing on news of corporate partnerships or operational pivots.
This move follows a broader trend of volatility in the Indian small-cap segment.
Earlier in July, shares of A-1 Limited hit the 5% upper circuit on the Bombay Stock Exchange after reporting a turnaround in financial performance, while Sindhu Trade Links saw sustained buying interest over multiple sessions.