This multibagger stock surged more than 6 per cent to make a new 52-week high!

The stock has witnessed heavy buying as it has given multibagger returns of more than 109 per cent in just 1 year

On Monday, shares of Data Patterns (India) Ltd surged more than 6.4 per cent to make a new 52 week high of Rs 1540. The scrip witnessed a massive spurt in volume by more than 1.10 times and closed 2.63 per cent up at Rs 1485.05.   

In December quarter ended 2022, the company achieved their best performance ever in the history of the company. Revenue from operations zoomed more than 155 per cent on YoY basis to Rs 111.8 crore. Net profitability of the firm shot up by more than 270 per cent from the corresponding quarter last year to Rs 33.3 crore. As on December 31, 2022, the company had a strong order book of Rs 888 crore.   

With the new manufacturing facility anticipated to commence in Q4FY23, they are well positioned to benefit from the strong sectoral tailwinds given their R&D prowess and the manufacturing capabilities. The company works closely with the defence PSUs such as Hindustan Aeronautics and Bharat Electronics as well as government organisations involved in defence and space research like DRDO and ISRO.  

Data Patterns is a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry. The company has proven in-house design & development capabilities and experience of more than three decades in the defence and aerospace electronics space.   

The stock has witnessed heavy buying as it has given multibagger returns of more than 109 per cent in just 1 year and more than 79 per cent in just 6 months. Keep a close eye on this trending stock.