This IT services stock is buzzing in trade; shares have skyrocketed 3,234% in 5 years

Shares of Danlaw Technologies were trading over 17% higher at ₹1,977.85 apiece on the BSE on Friday, September 6. For the June 2024 quarter (Q1 FY25), standalone net profit of the company declined 5.19% to ₹3.47 crore as against ₹3.66 crore during the previous quarter ended June 2023.

Sales rose 1.96% to ₹47.30 crore in the quarter ended June 2024 as against ₹46.39 crore reported in the corresponding quarter of the previous fiscal, as per reports.

On Wednesday, September 4, the company informed exchanges that the 31st annual general meeting (AGM) of the company will be held on Saturday, September 24.

Shares of the company have given multibagger returns in the past. For instance, the stock price has jumped 153% in the past 12 months and a whopping 3,234% over the past five years.

About Danlaw Technologies

Twenty years ago, Danlaw India was started as an offshore technology and product development center to give Danlaw Group a 24x7 market presence in a high-skill environment.

"Today, we continue to develop forward-looking technologies. We focus our efforts on R&D to stay ahead of rapidly changing industry needs in an increasingly connected world. Danlaw is known for ground-breaking technology, efficient development, and adaptive solutions for dynamic environments. Our world-class connected vehicle solutions make Danlaw one of the largest suppliers of connected gadgets in the world," the company's website says.

In 2018, Danlaw Technologies India acquired 100% shareholding of Titan Time Products (TTPL), a subsidiary of Titan Company, through a share purchase agreement. Consequently, TTPL became a wholly-owned subsidiary of the company with effect from June 18, 2018.

The acquisition was for a cash consideration of ₹18.50 crore, as per publicly available information.