Multibagger! Netweb Technologies soars 430% from IPO price in just 11 months; should you buy?

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₹500 to currently trade around ₹2,649.70.Moreover, the stock hit its record high of ₹2,712 in intra-day deals in the previous session, June 26, 2024. It has now soared almost 260 percent from its 52-week lows of ₹739.70 hit in October 2023. It has gained about 121 percent just in 2024 YTD, giving positive returns in 5 of the 6 months so far this calendar year.

It has risen 12 percent in June so far, extending gains for the 3rd straight month. It jumped 39.4 percent in May and 4.5 percent in April. However, the stock lost 5.4 percent in March.

Prior to that, it was positive in the first 2 months of this year, up 21.66 percent in February and 17.6 percent in January.Netweb Technologies India IPO was a book built issue of ₹631.00 crore. The issue was a combination of a fresh issue of 0.41 crore shares aggregating to ₹206.00 crore and an offer for sale of 0.85 crore shares aggregating to ₹425.00 crore. The IPO bidding started from July 17, 2023 and ended on July 19, 2023.

The shares got listed on BSE, NSE on July 27, 2023.Netweb Technologies is an India-based provider of high-end computing solutions (HCS) with fully integrated design and manufacturing capabilities. The company's HCS offering comprises HPC, private cloud and (HCI), artificial intelligence (Al) systems and enterprise workstations, high-performance storage (HPS) and data center servers.Recently, Netweb Technologies announced the launch of its Make-in-India range of servers for data centers and AI systems. These servers utilise the latest 4th Gen AMD EPYC processors and are available in various configurations including 1U, 2U, 4U, workstations, and others.