Kellton Tech Solutions zooms 100% in three weeks

Since September 23, the stock zoomed 101% from Rs 70.75 to Rs 142 compared to 3.7% rise in the Sensex.

Shares of Kellton Tech Solutions have locked in upper circuit of 10% at Rs 142, extending its three-week long rally on the BSE. The company engaged in information technology (IT) services business is currently trading at its 52-week high.

Till 02:18 pm, as many as 618,000 shares changed hands and there were pending buy orders for 166,585 shares on the BSE.

Since September 23, in past three weeks the stock zoomed 101% from Rs 70.75 compared to 3.7% rise in the S&P BSE Sensex.

The company had reported 247% year-on-year (YoY) growth in its consolidated net profit at Rs 22.07 crore for the full year ended June 30, 2015. Total revenues grew 79% at Rs 240 crore on YoY basis.

While announcing the financial results on August 31, the company said it targets Rs 2,000 crore annual revenue in the next three years.

This growth will be accomplished by strategic acquisitions; restructuring and consolidating its business units to optimise its global business and building strong tiers of middle and senior management across functional domains. Capitalising on the massive potential it sees in I-SMAC (Internet of Things – Social, Mobile, Analytics, Cloud), Kellton Tech intends to harness its power to help businesses offer great customer experiences, it added.

Meanwhile, the company’s developed mSehat, a mobile solution that will enable health workers to reduce the maternal and infant mortality rates in the state of Uttar Pradesh, has been launched by Uttar Pradesh’s Chief Minister Akhilesh Yadav today.