Massive buying activity propels stock with 1300 per cent returns; do you own it?

The scrip witnessed a massive spurt in volume

On Friday, shares of Saksoft zoomed and got locked at 5 per cent upper circuit to trade on a new 52-week high of Rs 256.90 apiece on BSE. The scrip witnessed a massive spurt in volume.

In Q4FY23, the operating income of the company surged by more than 30 per cent from last year’s same quarter to Rs 182.1 crore. The EBITDA level of the company stood at Rs 32.5 crore, witnessing a surge by more than 46 per cent from March quarter 2022. The net profit of the company zoomed by more than 42 per cent from corresponding quarter last year to Rs 25 crore.

In FY 22-23, the company pursued its 'inch wide, mile deep' strategy to foster growth. This strategic focus resulted in a remarkable 39 per cent increase in revenues, a 37 per cent rise in operating EBITDA, and a 30 per cent growth in PAT for the full year. While the company maintains an optimistic yet cautious stance on the global macroeconomic environment, it remains committed to creating market niches within an increasingly competitive industry.

 The company's dedication to its customers' businesses will drive its future endeavors and maintain its alignment and respect in the chosen industry verticals. The company eagerly anticipates the journey ahead, aiming to achieve USD 500 million in revenues by 2030. 

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Saksoft is an information technology company that provides digital transformation services and solutions to clients across various industries. Headquartered in Chennai, India, Saksoft has a global presence with offices in the United States, Europe, and Asia-Pacific regions. The company's services include application development, data analytics, cloud computing, and cybersecurity. Saksoft has been recognized for its quality of services and expertise in technology, and has won several awards and accolades over the years.

The stock has experienced significant buying activity, driven by its impressive performance, which has resulted in multibagger returns of over 1365 per cent in the last 3 years. Moreover, in the last year alone, the stock has surged more than 170 per cent. Keep a close eye on this trending multibagger stock.