Multibagger Stock: ACE Software Exports soars 300% in 2024 so far to hit new high, up 743% in a year; should you buy?
₹41.28 in December 2023 to touch its record high of ₹165.15 in intra-day deals. It hit its 2 percent upper circuit for the seventh straight session today. Meanwhile, it has soared over 743 percent in the last one year.
This recent surge has led to the stock soaring over 849 percent from its 52-week low of ₹17.40, hit on July 21, 2023. This year so far, the scrip has given positive returns in 4 of the 5 months to date. The stock has risen 14.5 percent in May following an over 58 percent surge in April.
However, it fell 8 percent in April. Meanwhile, it was also positive in the first 2 months of this year, gaining over 51 percent in February and 58.5 percent in January 2024. However, it is important to note that the stock is currently trading under ESM: Stage 2 In the long term as well, the stock has given multibagger returns, rallying 634 percent in the last 5 years, from ₹22.50 in May 2019; and 828 percent in the last 3 years from ₹17.79 in May 2021.
The Enhanced Surveillance Measure (ESM) is a regulatory framework implemented by the National Stock Exchange (NSE) in India. It aims to enhance monitoring and surveillance of listed companies to ensure investor protection and market integrity. Under Stage I, the trading of the securities is settled through a trade-for-trade mechanism with a price band of 5 percent, or 2 percent.
Under Stage II, the surveillance action permits trading on all trading days under periodic call auctions with trade-for-trade settlement and a 2 percent price band. Earlier this stage permitted trading just once a week. Ace Software Exports Limited, together with its subsidiaries, provides document management, digital publishing, and data conversion solutions using process engineering and conversion
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