Netweb Technologies shares fall over 7 per cent on Friday
The stock has lost more than 15 per cent in seven days amid global selling in technology sectors.
Netweb Technologies shares fell more than 7 per cent on Friday, November 6, marking seven consecutive sessions of losses, according to Mint. The stock reached an intraday low of ₹3,717 per share.
The decline comes as global selling pressure affects artificial intelligence (AI) and technology stocks. Investors are also reportedly concerned about expensive valuations and a slight moderation in profit margins.
The company's net profit margin for the September quarter declined by 9 basis points year-on-year and 8 basis points sequentially to 10.3 per cent. The stock is currently approximately 38 per cent below its 52-week high of ₹5,810, which was reached in August 2026.
Despite the recent drop, Netweb Technologies reported a rise in September-quarter earnings. Consolidated profit after tax (PAT) rose to ₹136.7 crore from ₹31.4 crore in the same quarter last year, while revenue from operations increased to ₹1,323.3 crore from ₹303.7 crore.
Chairman and Managing Director Sanjay Lodha said the second quarter was a record period with the highest-ever quarterly revenue and PAT. He noted that the first-half FY27 PAT reached ₹222 crore, exceeding the full-year FY26 profit of ₹205.8 crore.
BofA Securities has initiated coverage on the company with a ‘Buy’ rating and a price target of ₹5,000 per share. The brokerage anticipates that the firm's revenue will expand at a 40 per cent compound annual growth rate between FY26 and FY29.
