IT stocks delivered a robust performance in Wednesday’s trade, driving the Nifty IT sectoral index to impressive gains despite the uncertainty surrounding the 2024 US presidential election.
The Nifty IT index soared by 4.15 percent, closing the day with a remarkable rise of 1,639 points, or 4.05 percent, at 42,063.6. This rally was largely fueled by the surge in market sentiment following news of former President and Republican frontrunner Donald Trump taking a decisive lead in the 2024 election race, lifting investor confidence and market sentiment.
Following are a few Information Technology (IT) stocks held by ace investors as per the September 2024 shareholding pattern:
Intellect Design Arena Limited
With a market cap of Rs. 10,437.4 crores, the shares of a global leader in enterprise-grade financial technology moved down by nearly 3.6 percent to Rs. 745.3 on BSE, during the trading session of Friday.
As per the September 2024 shareholding data available with the BSE, the ace investor Mukul Mahavir Agrawal holds 20 lakh equity shares, representing a 1.45 percent stake in Intellect Design Arena.
The company experienced a decline in its revenue from operations, showing a year-on-year rise of around 10 percent to Rs. 558 crores in Q2 FY25, accompanied by around 26.8 percent fall in net profit to Rs. 52 crores, over the same period.
The stock has delivered positive returns of nearly 19 percent in one year, but around 4.3 percent of negative returns year-to-date.
Intellect Design Arena Limited is engaged in the development and implementation of software solutions to the BFSI sector, along with providing large digital transformation projects worldwide.
Nazara Technologies Limited
With a market cap of Rs. 7,130.2 crores, the shares of India’s leading diversified gaming and sports media company moved down by nearly 2.2 percent to Rs. 915.15 on BSE, during the trading session of Friday.
As per the September 2024 shareholding data available with the BSE, the ace investor Rekha Jhunjhunwala holds about 61.8 lakh equity shares, representing an 8.08 percent stake in Nazara Technologies.
Further, NKSquared and Kamath Associates, two firms of Zerodha co-founder Nikhil Kamath, hold a 2.29 percent stake and a 1.97 percent stake in the company, respectively.
The company experienced a marginal decline in its revenue from operations, showing a year-on-year rise of around 1.6 percent to Rs. 250 crores in Q2 FY25, while a growth of around 14.3 percent in net profit to Rs. 24 crores, over the same period.
The stock has delivered positive returns of nearly 16.4 percent in one year, as well as around 10.6 percent returns year-to-date.
Incorporated in 1999, Nazara Technologies Limited is engaged in the business of building a digital gaming ecosystem, end-to-end digital advertisement solutions, publishing eSports news and conducting and managing events related to eSports and other content through a consumer base in India and worldwide.
In eSports, the company has India’s leading esports platform NODWIN Gaming and Sportskeeda/Pro Football Network in the sports media space.
Zaggle Prepaid Ocean Services Limited
With a market cap of Rs. 5,099.2 crores, the stock moved up by nearly 2.4 percent to Rs. 424.75 on BSE, during the trading session of Friday.
As per the September 2024 shareholding data available with the BSE, the ace investor Ashish Kacholia holds about 29.03 lakh equity shares, representing a 2.37 percent stake in Zaggle Prepaid Ocean Services.
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of around 113.5 percent to Rs. 252 crores in Q2 FY25, accompanied by around 750 percent rise in net profit to Rs. 17 crores, over the same period.
The stock has delivered positive returns of nearly 80.2 percent in one year, as well as around 93.6 percent returns year-to-date.
Zaggle Prepaid Ocean Services Limited is a B2B2C Fintech SaaS Company, which is a leading player in spend management, with a differentiated value proposition and diversified user base. It offers a diversified portfolio of SaaS, including tax and payroll software.
Quick Heal Technologies Limited
With a market cap of Rs. 3,343.8 crores, the stock moved up by nearly 2 percent to Rs. 640 on BSE, during the trading session of Friday.
As per the September 2024 shareholding data available with the BSE, the ace investor Mukul Mahavir Agrawal holds 7 lakh equity shares, representing a 1.3 percent stake in Quick Heal Technologies.
The company experienced a marginal decline in its revenue from operations, showing a year-on-year rise of around 6.3 percent to Rs. 73.5 crores in Q2 FY25, accompanied by around 67.4 percent fall in net profit to Rs. 4.2 crores, over the same period.
The stock has delivered multibagger returns of nearly 103.6 percent in one year, and around 84.8 percent of positive returns year-to-date.
Incorporated in 1995, Quick Heal Technologies Limited is engaged in the business of providing security software products, serving both domestic and international market.
Written by Shivani Singh
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