Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; reports a 600 per cent increase in net profit!

Shares of the company have gained more than 110 per cent in the last six months.

Shares of 63 Moons Technologies Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The company has delivered strong Quarterly Results. 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 also made a new 52-week high of Rs 383.95.

In the recent quarter, Q2FY24, the net sales of the company increased by 258.87 per cent at Rs 158.69 crore for Q2FY24 as compared to Rs 44.22 crore for the corresponding quarter previous year. The company reported a 618.71 per cent rise in its net profit at Rs 79.87 crore for the quarter ended September 30, 2023, as compared to a loss of Rs 12.93 crore for the same quarter in the previous year.

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63 Moons Technologies Limited is a world leader in providing next-generation technology ventures, innovations, platforms, and solutions for creating digital markets and marketplaces that enable price discovery and transaction efficiencies across industry segments. Its focus has always been towards providing technology solutions, building user-friendly financial platforms, and creating digital marketplaces in India and abroad, thus taking India to the international markets. The stock has given multibagger returns of over 300 per cent during the last three years.

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.