Stock of this IT enabled services firm has zoomed over 100% in 7 weeks

Shares of Datamatics Global Services (DGSL) hit a new high of Rs 609.20, surging 12 per cent on the BSE in Monday’s intra-day trade. It surpassed its previous high of Rs 577.55, touched on June 5, 2023.

In past seven weeks, the stock price of this IT enabled services has more-than-doubled or zoomed 106 per cent after the company reported robust earnings for March quarter (Q4FY23). The management said it expects to see a sustained growth momentum for FY23- FY24, given a decent pipeline of opportunities. They are optimistic about the overall demand and confident of maintaining an overall revenue growth of 14 per cent to 15 per cent in FY24.