Rs 91 to Rs 398: This IT stock turned into a multibagger in a year; hit record high in previous session

Shares of Mold-Tek Technologies Ltd have turned into multibagger in a year. The IT enabled services stock, which closed at Rs 91 on September 2022 hit a record high of Rs 398.45 in the previous session, delivering 338% returns during the period. An amount of Rs 1 lakh invested in Mold-Tek Technologies stock a year ago would have turned into Rs 4.37 lakh today. In comparison, Sensex has risen 11.61 per cent during the period. The stock fell to a 52-week low of Rs 85.10 on September 30, 2022.

In the previous session, the Mold-Tek Technologies stock rose 5.13% to a record high of Rs 398.45 against the previous close of Rs 379 on BSE. A total of 0.53 lakh shares of the firm changed hands amounting to a turnover of Rs 2.05 crore on BSE. Market cap of Mold-Tek Technologies rose to Rs 1102 crore on Monday.

The stock has gained 149.21 per cent this year.

In terms of technicals, the relative strength index (RSI) of Mold-Tek Technologies stands at 70.2, signaling the stock is trading in the overbought zone. The stock has a beta of 0.8 in the last one year, indicating low volatility. Mold-Tek Technologies shares are trading higher than the 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

Financial Performance

Mold-Tek Technologies logged a 28.25%percent year-on-year rise in revenue to Rs 37.7 crore for the first quarter ended June 30 against Rs 29.4 crore in the corresponding quarter of the previous fiscal.

Consolidated profit climbed nearly 103% on year to Rs 6.3 crore in Q1 from Rs 3.1 crore in Q1FY23.

Operating profit climbed to Rs 9 crore in Q1 against Rs 5 crore in the June 2022 quarter.

About Mold-Tek Technologies

Mold-Tek Technologies Limited is engaged in providing technology solutions civil and mechanical design engineering services. It provides structural engineering, detailing and mechanical engineering services. It specializes in designing and detailing of structural steel, miscellaneous, metals, BIM services, in-house connection design and pre-engineered metal buildings-design and detailing services to steel fabricators, architects & general contractors.

Disclaimer: This article is for informational purpose only. Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Please consult your financial advisor or a qualified stock market expert before taking any position in the mentioned stock or stocks. Business Today will not be responsible for losses arising from trading or investing in these stocks.

Also read: Vishnu Prakash R Punglia shares listing, IRCON, Kajaria Ceramics ex-dividend stocks in Top News on September 5: Share markets, Bank Nifty, Garena Free Fire India launch, National Teachers' Award 2023

Also read: Stocks to watch on September 5, 2023: Oil India, Vishnu Prakash Punglia, Jio Financial Services, Ircon, Kajaria Ceramics, Adani Ports, others