Netweb Technologies Hits Bull’s Eye with Multiple Breakouts

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Netweb Technologies Posts 250% Gains in Stock Price in 1-year

By S Jha

New Delhi, November 19: Computing solutions company Netweb Technologies was trading with gains of over six per cent in early trades on Tuesday. With better second quarterly results, traders are keeping watch on shares of Netweb Technologies.

On one year, Netweb Technologies shares have given returns of 250 per cent. In the last six months, the company posted gains of over 40 per cent in share price appreciation.

Shares of Netweb Technologies had been consolidating while broader markets were in correction lately. In one month, shares of Netweb Technologies gave returns of just about five per cent. But several shares of companies went into deep corrections in the same time frame.

On the chart, Netweb Technologies gave a volume breakout on October 21 this year. Since then, shares of Netweb Technologies are on the upswing.

The chart of Netweb Technologies shares on November 6 and 8 again gave breakouts. Three breakouts on the chart in quick successions were backed by volume spurt.

Netweb Technologies shares had also risen quickly with volumes on May 6 and June 7 respectively. Volume spurts can be seen on the long-term chart of Netweb Technologies.

On November 28 last year, the stock of Netweb Technologies was trading at ₹880 per share. That day the computing solutions had risen in stock price with big volume. There was another follow up breakout on December 5 and 13 last year. With three quick breakouts, shares of Netweb Technologies had jumped to ₹1197.

Netweb Technologies stocks were now trading at ₹2882 on Tuesday in the early trades. Since November 28 last year, Netweb Technologies on the chart has given a series of breakouts to gain price appreciation in shares.

The face value of shares of Netweb Technologies is ₹2. The ROCE (Return on Capital Employed) and ROE (Return on Equity) of Netweb Technologies are 38.4 and 29.3 respectively. Market participants rate companies with ROCE and ROE above 25 each favourably as a thumb rule.

The market valuation of Netweb Technologies is currently ₹16205 crores. There was a major expansion in the earning per share (EPS) of Netweb Technologies in the second quarterly results. The company reported an EPS of ₹4.56 in the September quarter against ₹2.74 in the June quarter.

The foreign institutional investors (FIIs) have raised their stakes in Netweb Technologies from 10.22 per cent in the June quarter to 12.13 per cent in the September quarter. The domestic institutional investors have also raised stakes in Netweb Technologies to 5.59 per cent in the September quarter against 4.32 per cent in the June quarter.

Disclaimer: This article makes no recommendation for buy or sell of shares of any company. Stock market investment requires high degree of discipline, patience, and knowledge.

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