Today's Call

Buy the shares of 63 Moons Technology Ltd near Rs.343/Rs.344, T: Rs.441, SL: Rs.331. 

According to The Times of India:

"Jignesh Shah, a notable figure in the tech industry, is making a significant comeback with a focus on new-age technology ventures. Recognized for his past disruptive contributions such as ODIN, MCX, and Energy Exchange, Shah is now poised to explore innovative tech businesses.

Leveraging the momentum of the current tech wave, Shah's promoted company, 63 Moons (formerly Financial Technologies), is diversifying into cybersecurity, blockchain, and legal tech sectors.

Expressing his aspirations, Shah highlighted his desire to establish India's first set of technology "decacorns," aiming for significant growth in these new ventures. Collaborating with global players like Blackberry, Resecurity, and Morphisec, 63 Moons' cybersecurity venture is making strides in introducing new products and services". 

Financials: The Net profit of 63 Moons Technologies came to Rsm8.02 crore in the quarter ended March 2024 as against net loss of Rs.23.78 crore during the previous quarter ended March 2023.

However, sales declined 66.42% to Rs.37.44 crore in the quarter ended March 2024 as against Rs.111.51 crore during the previous quarter ended March 2023.

Impressive Performance in FY24: For the full year, net profit came as Rs.222.51 crore in the year ended March 2024 as against net loss of Rs.16.31 crore during the previous year ended March 2023.

Sales rose 62.86% to Rs.471.76 crore in the year ended March 2024 as against Rs.289.68 crore during the previous year ended March 2023. Photo: Daily Mint.