Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; hits fresh 52-week high!

In Q4FY23, the company reported a 40 per cent increase in net sales YoY.

Shares of Dev Information Technology Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. In the last one month, the stock has gained about 30 per cent.

Dev Information Technology Limited has also delivered multibagger returns to its shareholders. During this period, the company’s share price jumped from Rs 19.50 on June 26, 2020, to Rs 152.10 on June 20, 2023, an increase of about 600 per cent in three years holding period. And on one year basis, the stock has gained about 100 per cent.    

Dev Information Technology's journey began in 1997 with a small-scale setup mainly engaged in to business automation software development. Today, Dev Information Technology works together with its clients across the globe to empower their business with the right mix of information technology, innovation and digital transformation.

The company posted impressive Quarterly Results. The revenue of the company in the recent quarter (Q4FY23) stood at Rs 44.26 crore which grew by 40.09 per cent YoY. The operating profit of the company stood at Rs 5.05 crore, while the PAT of the company stood at Rs 3.60 crore, representing an impressive growth of 694.04 per cent YoY. The company has achieved the highest ever quarterly top line in Q4FY23. The stock has shown tremendous growth, and investors should keep a close eye on this stock.