Heavy buying: Back-to-back upper circuit in this multibagger IT stock; gains over 300 per cent!

Shares of the company gained more than 45 per cent in the last six months.

Shares of Nucleus Software Exports Limited were locked in the upper circuit on Monday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock has gained over 45 per cent in the last six months.

The company posted strong Quarterly Results in Q2FY23. The company posted a 57.78 per cent rise in its consolidated revenue at Rs 205.25 crore compared to Rs 130.09 crore from the previous year’s corresponding quarter. EBITDA rose by 214.91 per cent YoY and stood at Rs 63.80 crore from Rs 20.26 crore. The net profit jumped by three folds and stood at Rs 44.59 crore compared to Rs 11.03 crore from the previous year’s corresponding quarter.

Shares of Nucleus Software Exports Limited have given multibagger returns during the last one year of more than 300 per cent. The company’s order book stands at Rs 705.1 crore, with Rs 648.2 crore from the products business and Rs 56.9 crore from the projects and services business.

Nucleus Software Exports Limited is the leading provider of lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 200 customers in 50+ countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance, and other business areas. The company is known for its world-class expertise and innovation in lending and transaction banking technology.

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.