This micro-cap IT stock got locked at 10 per cent upper circuit despite weak market sentiment; here's why!

Earlier in September, the company had announced the issue of bonus shares in the ratio of 1:2 (i.e. one new equity share for every two existing equity shares held) and a stock split from Rs 10 to Rs 1

Mumbai-based Excel Realty N Infra Ltd, which is engaged in the information technology (IT) and realty sectors, has announced impressive results for six months ended September 2022.   

The company’s standalone revenues for H1FY23 rose to Rs 7.85 crore (H1FY23) as against Rs 0.42 crore in the same period last year. Its standalone net profit for the six months ended September 2022 zoomed to Rs 1.70 crore as against a loss of Rs 1.41 crore in the same period last year.     

Consolidated revenues for H1FY23 zoomed to Rs 5.37 crore as against Rs 0.46 crore in the corresponding period of six months ended September 2021.    

Earlier in September, the company had announced the issue of bonus shares in the ratio of 1:2 (i.e. one new equity share for every two existing equity shares held) and a stock split from Rs 10 to Rs 1.    

Excel Realty N Infra Ltd (formerly known as Excel Infoways Limited) has been continuously striving to achieve growth and success in operating in the multi-business segments. It operates in three segments namely infrastructure, BPO/IT-enabled services, and general trading segment.   

On Tuesday, the shares of Excel Realty N Infra witnessed a strong price volume breakout and locked at a 10 per cent upper circuit on NSE in the first half of the trading session, recording an intraday high of Rs 0.60 per share.