Netweb Tech shares jump 17% in 4 days; is there more upside ahead?

Shares of Netweb Technologies India Ltd extended their upward move for the fourth consecutive session on Friday. The stock surged 4.95 per cent to settle at Rs 2,133.70. At this closing price, it has gained 16.86 per cent in four trading days. The scrip saw high trading volume on BSE today along with the price action, as around 7.63 lakh shares changed hands. The figure was way more than the two-week average volume of 30,000 shares. Turnover on the counter came at Rs 168.26 crore, commanding a market capitalisation (m-cap) of Rs 12,088.24 crore.

Netweb Tech, a provider of servers, storage, backup and HPC solutions, reported a 100 per cent year-on-year (YoY) jump in profit after tax (PAT) to Rs 30.48 crore for Q1 FY26, up from Rs 15.24 crore in the same quarter last year. Operating income more than doubled to Rs 301.21 crore, compared to Rs 149.32 crore in the year-ago period.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter surged 127 per cent to Rs 44.8 crore, against Rs 19.7 crore reported in the corresponding quarter of the previous year.

From a technical perspective, the stock appears strong on the charts, with support expected in the Rs 2,120–2,040 range.

Kunal Kamble, Senior Technical Research Analyst at Bonanza, noted that Netweb has recently broken above a key resistance level on strong volumes, signalling robust buying momentum. He has set a target price range of Rs 2,600 to Rs 2,800, with a stop loss at Rs 2,040.

Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, noted that the stock looked strong on charts and could hit Rs 2,270 level in the near term. He advised placing a stop loss of Rs 2,120 for this trade.

Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, observed that support could be seen at Rs 2,085 and immediate resistance at Rs 2,300. A sustained move above Rs 2,300 could push the stock towards Rs 2,400, with the near-term trading range seen between Rs 2,050 and Rs 2,400.

As of June 2025, promoters held a 71.03 per cent stake in the IT firm.