Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; reports an 181 per cent jump in net sales!

Shares of the company have gained more than 40 per cent in the last six months.

Shares of 63 Moons Technologies Limited were locked in the upper circuit on Wednesday, gaining 10.00 per cent. The stock has gained about 40 per cent in the last six months. The stock is one of the Top Gainers in the BSE S&P BSE SmallCap Index.

The company posted strong Quarterly Results in Q1FY24. The revenue of the company stood at Rs 114.98 crore which grew by 181.75 per cent YoY. The operating profit of the company stood at Rs 59.00 crore, while the PAT of the company stood at Rs 38.98 crore, representing an impressive growth of 329.22 per cent YoY.

Earlier, Multi Commodity Exchange of India Limited (MCX) approached 63 Moons to extend the software support service arrangement after the long-term arrangement with MCX ended on 30th September 2022 and MCX selected a new technology service provider way back in February 2021.

63 Moons Techs is engaged in computer programming, consultancy and related services.

63 Moons Technologies Limited has also delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price jumped from Rs 83.40 on August 14, 2020, to Rs 278.95 on August 09, 2023, an increase of about 234 per cent in three year holding period.

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.