A company is said to be ‘financially strong’ when it portrays a specific set of characteristics such as strong and consistent financial performance, lower leverage ratios, healthy margins, and many more.
Listed below are four financially strong stocks associated with the ‘Information Technology’ (IT) sector that are trading at a discount of up to 30 percent from 52-week high level:
Danlaw Technologies India Limited
With a market capitalization of Rs 950.80 crores, the stocks of Danlaw Technologies India Limited are currently trading at Rs 1,952.10, slipping around 0.60 percent compared to the previous close of Rs 1,964.45 apiece.
The company’s stock hit its 52-week high price in January 2024 at a price of Rs 2,310 and the current stock price level exhibits a discount of approximately 16 percent.
During the recent financial quarters, the company’s prime business indicators including the operating revenues as well as after-tax profits showed positive movements with the former increasing from Rs 50 crores during Q2FY24 to Rs 53 crores during Q3FY24, and the latter, keeping the timeframe the same, rising marginally from Rs 5.9 crores to Rs 6 crores.
Nucleus Software Exports Limited
With a market capitalization of Rs 3,376.35 crores, the stocks of Nucleus Software Exports Limited are currently trading at Rs 1,395.55, slipping around 0.50 percent compared to the previous close of Rs 1,403.05 apiece.
The company’s stock hit its 52-week high price in January 2024 at a price of Rs 1,830 and the current stock price level exhibits a discount of approximately 24 percent.
During the recent financial quarters, the company’s prime business indicators including the operating revenues as well as after-tax profits showed marginal down movements with the former decreasing from Rs 205 crores during Q2FY24 to Rs 204 crores during Q3FY24, and the latter, keeping the timeframe the same, slipping slightly from Rs 45 crores to Rs 41 crores.
Onward Technologies Limited
With a market capitalization of Rs 1,206.43 crores, the stocks of Onward Technologies Limited are currently trading at Rs 535.85, gaining around 0.20 percent compared to the previous close of Rs 534.65 apiece.
The company’s stock hit its 52-week high price in December 2023 at a price of Rs 738.95 and the current stock price level exhibits a discount of approximately 28 percent.
During the recent financial quarters, the company’s prime business indicators including the operating revenues as well as after-tax profits showed marginal down movements with the former decreasing from Rs 120 crores during Q2FY24 to Rs 115 crores during Q3FY24, and the latter, keeping the timeframe the same, slipping slightly from Rs 10 crores to Rs 7 crores.
63 Moons Technologies Limited
With a market capitalization of Rs 2,220.99 crores, the stocks of 63 Moons Technologies Limited are currently trading at Rs 482, gaining nearly 1.30 percent compared to the previous close of Rs 475.85 apiece.
The company’s stock hit its 52-week high price in December 2023 at a price of Rs 688.80 and the current stock price level exhibits a discount of approximately 30 percent.
During the recent financial quarters, the company’s prime business indicators including the operating revenues as well as after-tax profits showed positive movements with the former increasing from Rs 159 crores during Q2FY24 to Rs 161 crores during Q3FY24, and the latter, keeping the timeframe the same, rising from Rs 79 crores to Rs 89 crores.
Written by Amit Madnani
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