Sagility India Share Price Locked In Upper Circuit; Gains 48% From Listing Day

Sagility India's share price continued its gains for a fifth consecutive session and was locked in its upper circuit limit on Tuesday. The stock has gained more than 48% from its closing price on November 12, its listing day.

The stock also recorded its highest level of Rs 43.48. In its five sessions of consecutive gains, the stock has risen 18%.

Earlier known as one of the most profitable ventures of Hinduja Global Solutions, the company announced its results for the September quarter on November 25. Net profit for the September quarter jumped by 236% year-on-year.

The company's consolidated net profit for the reporting quarter came in at Rs 117 crore as against Rs 35 crore in the same quarter a year ago. Revenue rose 21.1% to Rs 1,325 crore and Ebitda was 28.2% higher at Rs 300 crore. Ebitda margin came in at 22.6% as against 21.4%.

Sagility India share price rose as much as 5% to Rs 43.48 apiece, the highest level. It was locked in its upper circuit limit as of 10:26 a.m. This compares to a 0.1% advance in the NSE Nifty 50 Index.

Total traded volume so far in the day stood at 0.8 times its 30-day average. The relative strength index was at 84, indicating that the stock may be overbought.

Sarvendra Srivastava, market strategist at 5 Waves Official, had recently told NDTV Profit that Rs 38 is a fairly decent level for someone to take advantage for the rally.