Heavy buying: Back-to-back upper circuit in this multibagger stock; reports 190 per cent increase in net profit!

Shares of the company have gained more than 50 per cent in the last six months.

Shares of Iris Business Services Limited were locked in the upper circuit on Thursday, 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 stock has gained more than 50 per cent in the last six months.

In the recent quarter, Q4FY24, the net sales of the company increased by 47.66 per cent at Rs 30.35 crore for Q4FY24 as compared to Rs 20.56 crore for the corresponding quarter previous year. The company reported a 198.61 per cent increase in its net profit at Rs 4.72 crore for the quarter ended December 31, 2023, as compared to Rs 1.58 crore for the same quarter in the previous year.

IRIS Business Services Limited provides financial information, research, and training solutions to institutional, manufacturing, retail, and other industries in India and internationally. It offers corp filing, an internal data extraction, aggregation, and loading engine tool, IRISiFile, an XBRL (extensible business reporting language) enabled workflow and e-filing solution that provides a framework for the collection, validation, submission, review, and dissemination of information filed by regulated entities.

The company also provides consulting and business data services; workshops, seminars, and conferences; and in-house training on equities, life insurance, debt, mutual funds, commodities, and derivatives. The stock has delivered multibagger returns of over 150 per cent in one year.

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.