The shares of 63 Moons Technologies Limited surged 14.50 percent in today’s trading session and currently trade at Rs 248. The scrip touched its fresh 52-week high mark at a price of Rs 255.90. Within a period of just one month, the company’s stock has gained over 40 percent ranging from Rs 169.90 to the current levels.
The stock prices have seen such movements today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE) dated 29th June 2023, informed that it has agreed to the last-minute request made by the Multi Commodity Exchange of India Limited (MCX) pertaining to the software support services. The duration of the new arrangement is six months which will commence on the 1st of July 2023.
The commodity exchange had entered into contracts with the 63 Moons Technologies earlier as well and this time it has renewed the contract for Rs 250 crores for the whole tenure of the agreement as compared to the earlier amount of approximately Rs 80 crores it entered for the same duration.
Coming onto the latest consolidated financials reported by the company, the operating revenues moved up from Rs 160 crores during FY21-22 to Rs 290 crores in FY22-23. Moreover, the company is striving hard to reduce its net losses with the most recent movement from losses of Rs 74 crores during FY21-22 to losses of Rs 21 crores in FY22-23.
As per the shareholding data available for the March 2023 quarter, the Promoters hold a 45.63 percent stake, and Foreign Institutional Investors (FIIs) hold a 0.12 percent stake in the company.
63 Moons Technologies Limited is the foremost company that provides various solutions and innovations in the financial markets. It is a world leader when it comes to providing next-generation platforms, ventures, and solutions for the purpose of creating digital markets that aid in price discovery across a wide range of industries.
Written by Amit Madnani
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