Multibagger Data Patterns soars 10%, hit fresh 52-week high; here's why

economictimes.indiatimes.com:

The three-day rally in this multibagger stock has catapulted its 1-year gains to 144%, a significant outperformance over Nifty with 27% returns during the same period.

The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs). The recent surge has pulled the counter is a strongly overbought zone with RSI and MFI reported by Trendlyne at 82 and 90, respectively. A number above 70 is considered to be overbought while below 30 is oversold.

Data Patterns reported a 53% year-on-year (YoY) jump in its net profit for the quarter ended December 2023 at Rs 51 crore, up from Rs 33 crore reported in the corresponding quarter of the last financial year. In Q2FY24, the company reported a PAT of Rs 34 crore. The revenue for the reported quarter stood at Rs 151 crore versus Rs 114 crore in Q3FY23. In the previous quarter, the revenue from operations stood at Rs 119 crore.
The company’s earnings before interest, tax, depreciation, and amortization (operational EBITDA) increased by 28% from Rs 47 crore for the quarter ended December 31, 2022, to Rs 60 crore in the corresponding quarter ended December 31, 2023.

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