Heavy buying: Back-to-back upper circuit in this micro-cap multibagger IT stock; gains over 200 per cent!

Shares of the company have gained about 50 per cent in the last six months.

Shares of Softtech Engineers Limited were locked in the upper circuit on Wednesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last two days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 50 per cent.

SoftTech Engineers Limited is an information technology and software services organization, that delivers end-to-end solutions in the Architectural-Engineering-Construction (AEC) space, catering to property developers, municipal corporations, investors, real estate companies, contractors, architects, and consultants. The company has partnerships and collaborations with strong global industry leaders like ESRI, Autodesk, RIB, Microsoft, Mitsubishi Electrical, etc.

Also read, Explained: What is behavioural finance and its implications

The company posted robust Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 18.81 crore which grew by 54.96 per cent YoY. The operating profit of the company stood at Rs 5.33 crore, while the PAT of the company stood at Rs 0.50 crore, representing a decline of 27.79 per cent YoY.

Softtech Engineers Limited has also delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price jumped from Rs 77.35 on October 23, 2020, to Rs 244.85 on October 18, 2023, an increase of about 200 per cent in the three-year holding period.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.