Heavy buying witnessed: This stock surged more than 17 per cent in todays session. Do you own it?

The company’s standalone net profit skyrocketed 300 per cent from the corresponding quarter last year

On Monday, shares of D-Link (India) zoomed more than 17.5 per cent to make an intraday high of Rs 246.45. The scrip witnessed a massive spurt in volume by more than 2.65 times.   

The company released its Q3FY23 results, wherein, the standalone total income from operations rose by 18 per cent from Q3FY22 to Rs 279.39 crore. The company’s standalone net profit skyrocketed 300 per cent from the corresponding quarter last year to Rs 9.04 crore.   

D-Link (India) Ltd is primarily engaged in marketing and distribution of networking products. It operates through a distribution network with a wide range of product portfolio and solutions with a nationwide reach across India.   

The company offers a wide range of products for business and consumer needs. Its portfolio includes different kinds of routers, switches, wireless devices, surveillance, network security, structured cabling, network infrastructure and optical transport network products.  

The stock has shown strong buying as it has surged more than 54 per cent in just 1 year and more than 48 per cent in just 6 months. In the past 5 trading sessions, the stock has outperformed the BSE Sensex returns, as it has surged more than 20 per cent.   

Keep a close eye on this trending stock.