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Business News/ Markets / Stock Markets/  10 small-cap IT stocks including Birlasoft, 63 Moons Tech gained over 140% in last one year; check full list
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10 small-cap IT stocks including Birlasoft, 63 Moons Tech gained over 140% in last one year; check full list

10 small-cap IT stocks like Ceinsys Tech, Newgen Software, and Dynacons Systems & Solutions have recorded remarkable gains of up to 357% in the last one year.

Dynacons Systems & Solutions secured the third position, with its stock price escalating from ₹345 apiece to ₹1,032 over the past year, rewarding shareholders with a 199% return.Premium
Dynacons Systems & Solutions secured the third position, with its stock price escalating from 345 apiece to 1,032 over the past year, rewarding shareholders with a 199% return.

Small-cap and mid-cap stocks have been capturing attention with their remarkable performance over the past year, dominating headlines. Notably, within the sectoral landscape, small-cap IT stocks have also emerged as top performers, multiplying investors' wealth by up to 3.5 times. This exceptional growth has far surpassed the returns generated by larger companies in the IT sector.

Let's take a closer look at the performance of the top 10 small-cap IT stocks, which have recorded stellar gains over the past one-year period. 

Phenomenal Performance

Ceinsys Tech has emerged as the top performer, witnessing a stellar surge from 148.50 apiece to 679.90 apiece, marking a staggering 357% increase. Notably, in October alone, the shares experienced a significant 70% jump. 

Securing the second spot, Newgen Software Technology's stock soared from 221 apiece to 790.80 apiece, reflecting an impressive 258% surge. Compared to their low of 164 apiece in November 2022, the shares are currently trading 382% higher. 

The company is a low-code application development platform company. It is an established player in the market of enterprise content management (ECM), business process management (BPM), and customer communications management (CCM).

Also Read: IT sector likely to report muted revenue growth with stable margins in Q4FY24

Dynacons Systems & Solutions secured the third position, with its stock price escalating from 345 apiece to 1,032 over the past year, rewarding shareholders with a 199% return. Since April 2021, the shares have experienced a one-way spike, resulting in an astounding 1212% surge to date.

On March 26, the company received an order worth 41.72 crore from the National Payments Corporation of India. 

Earlier, in January, it secured a 214 crore order from Union Bank of India for hyper-converged infrastructure and software solutions. Additionally, it won a significant project worth 137 crore from Bharat Heavy Electricals and a contract worth 90 crore from BSNL.

The company is a Mumbai-based IT company with a global presence. It specialises in IT infrastructure-related activities and offers various service models, including IaaS, PaaS, and SaaS.

Birlasoft, a subsidiary of the CK Birla Group, has shown impressive growth in the past year. Its shares have surged from 267.45 apiece to the current level of 773.40, marking a fabulous return of 189%. 

Also Read: TCS, Wipro to Infosys: Is it wise to accumulate IT stocks in FY25?

Notably, between April and February, the stock skyrocketed 193% to reach a historic high of 861.85 apiece. In February, the company introduced Cognito, an artificial intelligence platform for enterprises, showcasing its commitment to innovation.

Oracle Financial Services has consistently delivered double-digit returns over the past three months.  Following a remarkable 55% return in January 2024, driven by strong Q3 FY24 performance, the stock continued its upward trajectory with returns of 18% and 14% in the subsequent two months. 

Overall, it has gained nearly 170% in the past year. On April 01, the stock recorded a new lifetime high of 9,021 apiece. 

Similarly, Ksolves India, specialising in software development and IT consulting services for various sectors, including e-commerce, healthcare, and finance, witnessed a 160% surge in its shares over the past year. 

Its shares were listed on the bourses on June 06, 2020, at a price of 106.90. Considering the current market price of 1,147, the stock is trading over 973% above its issue price. 

Black Box (formerly AGC Networks Limited) has also delivered massive returns to its shareholders, posting a staggering 158% gain over the past year. 

Similarly, Magellanic Cloud has emerged as another star performer, witnessing a phenomenal surge in its shares from 192.90 apiece a year ago to the current trading price of 468.65 apiece, marking a substantial 143% increase.

Also Read: Shifting dynamics: Top IT players navigate niche growth avenues

The company offers transformational and outsourcing services, including listing employment vacancies and facilitating applicant placements.

Additionally, stocks such as Inspirisys Solutions and 63 Moons Technologies have also experienced significant rallies, with gains exceeding 140% over the past year.

 

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

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Published: 04 Apr 2024, 01:57 PM IST
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