Multibagger stock: Infibeam Avenues surges 48% in 6 sessions; here’s why
Live MintInfibeam Avenues, a fintech firm, saw its shares gain exponentially over the last six trading sessions, jumping in value from ₹25.60 apiece to today's closing price of ₹37.80, rewarding its shareholders with a tremendous return of 48% within this brief period. Infibeam Avenues is an Indian multinational financial technology company that offers integrated and scalable digital platforms consisting of digital payment solutions under the brand name CCAvenue and enterprise software solutions under the brand name BuildaBazaar. In Q3, the company achieved its highest-ever quarterly profit after tax of ₹42.1 crore, reflecting a substantial 64% increase compared to the net profit of ₹25.7 crore recorded in the corresponding period last year. Meanwhile, the company maintains its financial guidance for FY24, maintaining a range of ₹3,000–3,300 crore for gross revenue, ₹410–415 crore for net revenue, ₹230–235 crore for EBITDA, and ₹130–150 crore for profit after tax.
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