Spotlight on Two Promising Emerging Tech Stocks Listed on the LSE - CNC & IGP

This report is an updated version of the report published on 25 July 2025 at 08:00 AM, GMT+1.

Section1: Company Overview and Fundamental Insights:

Concurrent Technologies PLC (LSE: CNC) is an FTSE AIM All Share listed, United Kingdom-based company, which is engaged in designing, manufacturing, and supplying of high-end embedded single board computers and complementary accessories aimed at a wide base of customers within the defense and aerospace, telecommunications, medical, and other markets.

Kalkine’s UK Technology Report covers the Investment Highlights, Key Financial Metrics, Risks, Recent Business Updates along with the Valuation, Target Price, and Recommendation on the stock.

The top 10 shareholders together form ~35.57% of the total shareholding. Premier Asset Management Ltd and Charles Stanley & Co. Limited hold a maximum stake in the company at ~9.83% and ~5.13%, respectively.

Section 2: Business Updates and Financial Highlights

Section 3: Key Risks and Company Outlook

Section 4: Stock Recommendation Summary

The stock has witnessed an upside of ~11.41% over the last 3 months and by ~4.33% over the last 6 months respectively. The stock has a 52-week low and 52-week high of GBX 103.00 & GBX 216.19 respectively and is currently trading above the average of 52-week high-low.

Valuation Methodology: Price to Earnings Based Relative Valuation (Illustrative):

Section1: Company Overview and Fundamental Insights:

Intercede Group PLC

Intercede Group PLC (LSE: IGP) is an FTSE AIM All-Share listed cybersecurity specialist headquartered in the UK, develops digital identity solutions that help organizations prevent data breaches caused by compromised credentials. The company offers a modular product suite enabling customizable security implementations, ranging from secure user registration and identity verification to comprehensive password management systems. Its technology portfolio includes one-time password solutions, FIDO (Fast Identity Online) authentication protocols, and public key infrastructure (PKI) capabilities, allowing clients to select appropriate security levels for their specific operational requirements.

Kalkine’s Technology Research Report covers the Investment Highlights, Key Financial Metrics, Risks, and Recent Business Updates along with the Valuation, Target Price, and Recommendation on the stock.

The top 10 shareholders together form ~71.03% of the total shareholding. Tredoux (Jacques) and Canaccord Genuity Wealth Management hold a maximum stake in the company at ~25.62% and ~6.63%, respectively.

In H2 FY25, the gross margin increased to 97.60%. The current ratio also rose to 2.35x, reflecting improved short-term liquidity. 

Below charts data are compared on year-on-year basis

Section 2: Business Updates and Financial Highlights

Section 3: Key Risks and Company Outlook

Section 4: Stock Recommendation Summary

One-Year Technical Price Chart (as of July 24, 2025). Source: REFINITIV, Analysis: Kalkine Group

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 24 July 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 6: Dividend Yield may vary as per the stock price movement.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.