Magellanic Cloud Share Price Soars to Record High
🚀 The IT company Magellanic Cloud has delivered stellar returns to its investors over the past few years. The share price has surged by 8,166% in the last five years, from ₹7 in May 2019 to ₹615 currently.
📈 In the last three years alone, the stock has grown by 4,078%, with the price standing at ₹14.72 in May 2021. Over the past year, the share has seen a 201% increase, and it is currently up by 34% by 2024.
💰 Investors have seen positive returns in four out of the last five months, with a significant 28% return in April and indications of further positive returns in May. However, there was a 22.6% drop in March.
📉 The stock hit a 52-week low of ₹203.05 on May 30, 2023, and closed at ₹606 on Friday, May 31, 2024, with a 1.63% decline.
🔍 Magellanic Cloud shares are currently under additional surveillance measures in Category 2, indicating unusual trading patterns or volatility. Close monitoring is essential in such cases.
💻 Magellanic Cloud Limited provides IT solutions for organizations, mobile, and desktop. The company also offers IT consultancy services and was formerly known as South India Projects Limited, established in 1981 and headquartered in Hyderabad.
💹 In the March quarter, the company reported a significant increase in profits, with a net profit of ₹3.97 crore. However, revenue decreased by 26% to ₹15.42 crore in the same period.
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