Heavy buying: Back-to-back upper circuit in this multibagger penny stock; reports 187 per cent jump in PAT!

Shares of the company gained more than 130 per cent in the last six months.

Shares of DRC Systems India Limited were locked in the upper circuit on Friday, 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. In the last six months, the stock has gained more than 130 per cent.

Recently, DRC Systems India won a Rs 2.26 crore contract to develop and maintain the Skill India Digital Platform's learning management system (LMS) from the National Skill Development Corporation (NSDC). This LMS will help unify skilling initiatives across India.

The company posted strong Quarterly Results in Q4FY24. The revenue of the company stood at Rs 17.21 crore which increased by 152.79 per cent YoY. The operating profit of the company stood at Rs 4.83 crore. The company’s PAT stood at Rs 3.93 crore which increase by 187.06 per cent in Q4FY24.

Shares of DRC Systems India Limited have also delivered multibagger returns to their shareholders in the last three years. During this period, the company’s share price jumped from Rs 9.36 on June 18, 2021, to Rs 31.33 on June 14, 2024, an increase of about 230 per cent in the last three-year holding period.

DRC Systems India Limited is an IT services and consultancy company. The company provides software development and offers a complete range of IT and IT-enabled solutions which include mobile app development, website development, AI and automation, enterprise solutions, cloud-based services, digital marketing services, etc.

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.