Heavy buying: Back-to-back upper circuit in this small-cap multibagger IT stock; gains over 200 per cent!

Shares of the company have gained about 140 per cent in the last six months.

Shares of Nucleus Software Exports Limited were locked in the upper circuit on Thursday, gaining 10.00 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 about 140 per cent.

The company posted robust Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 206.81 crore which grew by 60.52 per cent YoY. The operating profit of the company stood at Rs 75.41 crore, while the PAT of the company stood at Rs 53.56 crore, representing a growth of 397.31 per cent YoY.

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Nucleus Software Exports Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 393.80 on October 19, 2022, to Rs 1449.40 on October 19, 2023, an increase of about 230 per cent in the one-year holding period.

Nucleus Software provides lending and transaction banking products to the global financial services industry. As a pioneer in retail and corporate banking software since 1986. Their software powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas.

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.