Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; reports a 130 per cent increase in net sales!

Shares of the company gained more than 100 per cent in the last six months.

Shares of R S Software (India) Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The company has delivered impressive Quarterly Results. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit.

R S Software (India) Limited has reported results for the first quarter ended June 30, 2023 (Q1FY24). The revenue of the company for Q1FY24 stood at Rs 11.08 crore which grew by 130.99 per cent YoY. The company's operating profit stood at Rs 2.60 crore, while the PAT of the company stood at Rs 1.41 crore, as compared to a loss of Rs 4.05 crore for the same quarter in the previous year.

Shares of R S Software (India) Limited have given multibagger returns during the last six months. The shares of the company jumped from Rs 26.80 on March 01, 2023, to Rs 55.35 on August 31, 2023, an increase of about 105 per cent in one year holding period.

R S Software (India) Limited is predominantly engaged in software development, maintenance, testing, and software project management under client-server and web-based technologies. The company provides Real-Time Payments -RS Digital edge (API-based digital layer which can integrate seamlessly with underlying instant payment or faster payment), RS Intelliedge - Banks (Integrated fraud and risk management), etc.

On Thursday, the stock opened at Rs 51.50, with a high and low of Rs 54.64 and Rs 51.50, respectively. The stock closed trading at Rs 54.64, up by 5.00 per cent. The stock has a 52-week high of Rs 54.64 and a 52-week low of Rs 21.16.

Disclaimer: The article is for informational purposes only and not investment advice.