Netweb Technologies Share Price Declines A Day After Hitting Record High

Netweb Technologies' share price declined over 5% on Tuesday, a day after the company's share price soared 8.53% to hit its all-time high on the back of an order win.

The company secured an order worth about Rs 450 crore for the supply of its AI-supercomputing systems. In an exchange filing, the company disclosed that it has received a purchase order for its Tyrone AI GPU Accelerated Systems.

The contract is scheduled to be executed by the end of the financial year 2025-26

The order has been awarded by "one of the largest Indian-headquartered global providers of technology distribution and integrated supply chain solutions," the company said, without disclosing the name of the client.

Netweb Technologies is a provider of high-end computing solutions, specialising in the design and manufacturing of supercomputing systems, private cloud infrastructure, AI systems, and enterprise workstations.

The company has more than 20 years of experience in providing Server, Storage, HPC, AI/ML, Cloud Computing, and Networking solutions.

The scrip fell as much as 5.09% to Rs 3,355.40 apiece. It pared losses to trade 1.39% lower at Rs 3,486.20 apiece, as of 11:07 a.m. This compares to a 0.31% decline in the NSE Nifty 50 Index.

It has risen 33.25% in the last 12 months. Total traded volume so far in the day stood at 0.46 times its 30-day average. The relative strength index was at 75

All three analysts that are tracking the company maintain a 'buy' rating for the stock according to Bloomberg data. The average 12-month consensus price target implies an downside of 20.3%