Stock below Rs 35: Heavy buying witnessed in this IT stock surging over 248 per cent in just 6 months

The stock again made a new 52-week high after consecutively touching upper circuit levels in the past few days as the stock skyrocketed over 42 per cent in the last 5 trading sessions.

On Tuesday, shares of Adroit Infotech surged 4.84 per cent and got locked at an upper circuit level of Rs 30.30. The stock again made a new 52-week high after consecutively touching upper circuit levels in the past few days as the stock skyrocketed over 42 per cent in the last 5 trading sessions.   

Recently, the company announced its Quarterly Results which showed a 21.70 per cent jump in its total income of Rs 1.37 crore, from the previous quarter. The EBITDA levels increased by 52 per cent to Rs 0.81 crore from the June 2022 quarter. The company’s net profit surged over 120 per cent from the corresponding quarter to Rs 0.53 crore.  

Incorporated in 1990, Adroit Infotech Ltd is primarily engaged in the business of SAP Support Services. The company helps organizations to reduce costs and improve effectiveness and efficiency through internal process improvements using SAP products and solutions. The company has a mix of domestic and MNC clients namely Vicco, Supreme, Finolex, Mercedes, Bosch etc.  

The company has shown positive traction this year as it has given multibagger returns of over 248 per cent in just 6 months and over 125 per cent in 1 year. Keep a close eye on this trending multibagger IT stock.