In the ever-evolving world of stock investments, the quest for promising opportunities often leads investors to stocks under 30 rupees that exhibit strong financials and attract foreign institutional investors (FIIs). One such candidate that deserves a closer look is Infibeam Avenues.
Weekly Chart Analysis
Examining the weekly chart reveals that Infibeam Avenues is currently hovering around its resistance point, tantalizingly close to the 30-rupee mark.
The chart hints at a potential breakout, especially after the formation of a robust bullish candle accompanied by substantial volumes. If the stock manages to sustain its price at these levels, it could present lucrative opportunities for investors.
Q2 FY23-24 Results
The second-quarter results for FY23-24 showcase a mixed bag of performance metrics for Infibeam Avenues. While net sales surged impressively by 70.03% to reach Rs 739.91 crore in September 2023, the quarterly net profit experienced a dip of 23.74%, settling at Rs. 35.56 crore. EBITDA, standing at Rs. 65.79 crore, marked a 14.12% decrease from the previous year. Notably, the EPS declined from Rs. 0.17 in September 2022 to Rs. 0.13 in September 2023.
Strong Fundamentals
Infibeam Avenues boasts a set of robust fundamentals that enhances its investment appeal:
- The company has significantly reduced its debt, approaching near debt-free status.
- Anticipated positive quarterly performance.
- A noteworthy median sales growth of 37.2% over the last decade.
- An upward trend in FII interest.
Strategic Acquisition and Vision
In a strategic move in December 2023, Infibeam Avenues acquired a 49% equity stake in Pirimid Fintech for approximately Rs. 25 crores. The company’s focus extends to becoming a key player in the AI-based fraud detection and prevention market, evident in its Rs. 1 billion investment to establish a new AI Hub, extending its presence from the existing GIFT City hub.
About the Company
Established in 2007, Infibeam Avenues Ltd engages in a spectrum of services, including software development, maintenance, web development, payment gateway services, e-commerce, and other ancillary services.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
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