Today, Forbes & Company hit an upper circuit limit of 5% at Rs 766.05 on BSE. Forbes & Company’s shares have surged 17.71% in five straight sessions. On BSE, 4,532 shares were traded compared to daily average daily volumes of 10,000 shares in the previous two weeks.

Shares of the company outperformed the market in August, up 1.26% against the Sensex and down 3.26%. Also, the stock outperformed the market in the first quarter with a gain of 95.27% compared to Sensex’s rise of 7.03%. Additionally, Forbes and Company shares have surged 156.85% in 2021, while Sensex shares have fallen 4.61%. The stock is trading above its 50-day SMA (simple moving average) at 608.38 and its 100-day simple moving average (SMA) at 499.25.

Real estate, business and engineering developing payment processing and transaction automation solutions are Forbes’ three main areas.

On a consolidated basis, Forbes posted a net profit of Rs 145.78 crore in the April-June 2022 quarter compared to a net loss of Rs 4.34 crore in the April-June 2021 quarter. Also, net sales declined 6.36% to Rs 121.85 crore in Q1FY23 from Q1FY22.