Shares of Cressanda Solutions Ltd have rallied over 14,000 % in the last three years. The smallcap stock, which closed at Rs 0.19 on May 15, 2020 rose to a high of Rs 27 on the BSE today (May 17, 2023). An amount of Rs 1 lakh invested in the shares of Cressanda Solutions three years ago would have turned into Rs 1.42 crore today. In comparison, Sensex has risen 97.29 per cent during the period. In the current session, the shares of the IT services firm slipped 2.94% to Rs 25.96 on BSE today. Cressanda Solutions stock opened flat at Rs 26.60 today against the previous close of Rs 26.89 on BSE.
In terms of technicals, the relative strength index (RSI) of Cressanda Solutions stock stands at 54.4, signaling it's neither trading in the overbought nor in the oversold zone. Cressanda Solutions shares have a beta of 0.9, indicating low volatility in a year. Cressanda Solutions shares are trading higher than the 20 day and 50 day moving averages but lower than 5 day, 100 day and 200 day moving averages.
Of late, the multibagger IT services stock has been trading in the red.
The stock has fallen 20% in one year and fallen 2.43% since the beginning of this year. Total 2.08 lakh shares of the firm changed hands amounting to a turnover of Rs 55.12 lakh on BSE. Market cap of the firm fell to Rs 1040.87 crore on BSE.
One promoter held 0.08 per cent stake in the firm and 37,363 public shareholders owned 99.92 per cent for the quarter ended March 2023. Of these, 36,592 resident individuals held 3.39 crore shares or 8.52% stake with capital up to Rs 2 lakh. Only 53 resident individuals with 11.35% stake held capital above Rs 2 lakh for the quarter ended March 2023. 113 NRIs held 2.53lakh shares or 0.06% stake in Q4 of the last fiscal.
Financial Performance
The stellar rally in the Cressanda Solutions stock reflects the financial performance of the firm in the last three years. In the December quarter, the firm reported a profit of Rs 1.30 crore against Rs 0.05 crore in the corresponding quarter of previous fiscal. Sales rose to Rs 23.45 crore in the December 2022 quarter against Rs 0.07 crore in the December quarter of 2021.
Operating profit zoomed to Rs 1.55 crore for the quarter ended December 2022 against Rs 0.04 crore in the corresponding quarter of the previous fiscal.
On a quarter-on-quarter basis, the firm reported a 2.36% rise in net profit from Rs 1.27 crore in the September 2022 quarter. However, sales climbed 12.15% in Q3 from Rs 20.91 crore in Q2 of the last fiscal.
About the Company
Cressanda Solutions is engaged in information service activities. The company is engaged in providing information technology (IT), digital media and IT-enabled services. Its software services include onsite-offshore development of various business applications, IT consulting, and offshore application development, maintenance, testing, and migration services.
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