Buzzing Stock: Affle India locks in at upper circuit
On Friday, the stock of Affle India locked in at its upper circuit of 10 per cent. With this, its trading for the day halted at Rs 2,316.75, gaining by Rs 210.60 per share from its previous close.
Affle India is one of the top performers on Nifty Small-Cap index. Currently, the stock is trading at its all-time 52-week high of Rs 2,316.75 per share. Staring at promising returns, the scrip continues to make its investors happy with its third straight weekly gain.
Affle India is a global technology company that focusses and aims to improve returns on marketing spend along with delivering contextual mobile ads and for reducing digital ad fraud thereby, addressing consumer privacy expectations.
The company is said to not only focus on the profitable growth business model but also on increasingly generating positive cash flows. For Q1FY21, on a consolidated basis, its net profit rose by 42.3 per cent YoY to Rs 18.77 crore while net sales increased by 20.38 per cent YoY to Rs 89.77 crore. For Fy20, the company reported an increase of 3.84 per cent YoY in the net sales while net profit for the same period rose by 34.2 per cent to Rs 65.52 crore.
Affle India continues to invest in attractive inorganic opportunities to further enhance the value of its stakeholders. The company’s stock has gained by nearly 43.30 per cent on a YTD basis. Since the sharp fall in the markets on March 23, 2020, the stock has made a significant recovery thus, gaining by nearly 124 per cent. The stock has tripled from its 52-week low of Rs 771 on August 23, 2019.