Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; reports a 137 per cent increase in net profit!
Shares of the company have gained more than 110 per cent in the last six months.
Shares of Black Box Limited (BBL) were locked in the upper circuit on Wednesday, gaining 5.00 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. The company has delivered strong Quarterly Results.
In the recent quarter, Q2FY24, the net sales of the company increased by 0.78 per cent at Rs 1574.35 crore for Q2FY24 as compared to Rs 1562.24 crore for the corresponding quarter previous year. The company reported a 137 per cent rise in its net profit at Rs 30.38 crore for the quarter ended September 30, 2023, as compared to a loss of Rs 22.60 crore for the same quarter in the previous year.
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Black Box Limited has also delivered multibagger returns to its shareholders in the last five years. During this period, the company’s share price jumped from Rs 14.79 on December 28, 2020, to Rs 264.10 on December 27, 2023, an increase of about 1600 per cent in a five-year holding period.
BBL is a global information and communication (ICT) solutions provider and integrator in business communication systems, applications and services. The company provides a server-based converged networking platform for voice, data and video, including IP telephony, multimedia call centre and customer relationship management (CRM) solutions, unified communications, and customer service.
The stock has shown tremendous growth, and long-term investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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