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In a filing to BSE, post market hours, the company said its revenue from operations was up 84 per cent YoY at Rs 2,230 crore from Rs 1,214 crore in the year-ago quarter. The company said this was its best ever quarterly performance.

A total of 28,197 shares changed hands on the counter till 11:11AM (IST)

The company, however, has managed to grow revenues on the back of strong volumes. The profits remain steady with a focus on digitisation and yield management, it stated.

Nomura India sees it at Rs 319 while ICICI Securities finds it worth Rs 299. These targets suggest 10-21 per cent potential upside. The scrip has an average price target of Rs 327, as per Trendlyne, suggesting a 20 per cent-plus upside potential on the counter.

“High beta stocks – IT and banking – tend to do really well when there is a lot of foreign money coming in and they suffer the most when this money comes out. The domestic institutions are still buying. If this trend continues, IT and banking stocks could for the short term be the biggest beneficiaries of this buying activity.”

As of 30-Jun-2022, promoters held 54.22 per cent stake in the company, while FIIs held 15.91 per cent and domestic institutional investors had 0.13 per cent.

The stock quoted a 52-week high price of Rs 2379.0 and a 52-week low of Rs 1513.3.

PSP Projects Ltd., incorporated in the year 2008, is a Small Cap company (having a market cap of Rs 2290.50 Crore) operating in Construction sector.

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Apollo Hospitals Enterprise, Page Industries, Trent, Aurobindo Pharma, Bharat Forge, The Phoenix Mills and Sunteck Realty are among companies that will announce their quarterly earnings today.