String Metaverse hits 5% circuit on FY27 Q1 profit surge
String Metaverse locked in a 5% upper circuit on Wednesday as doubled first-quarter profits attracted buyers, contrasting sharply with a broader Indian market sell-off driven by macro headwinds.
String Metaverse shares hit a 5% upper circuit on Wednesday, bucking a broader Indian equity sell-off. The rally came as the Nifty 50 fell 0.62% to 24,325.70 and the Sensex dropped 0.68% to 77,623.79 by mid-afternoon.
The stock's gains were driven by a strong first-quarter earnings report for the fiscal year 2027. Revenue surged 97.13% year-on-year to ₹392.42 crore, up from ₹199.07 crore in the same period last year, while profit after tax surged 101.80% to ₹36.92 crore from ₹18.30 crore.
Earnings drive rebound
The quarterly results marked a strong start to the fiscal year as the company scales its technology operations, expanding across artificial intelligence, blockchain, and digital financial infrastructure. Part of this push includes strengthening its blockchain strategy through Billson Chain and investing in tokenised financial systems.
"Q1 FY27 represents another strong quarter for String Metaverse. Revenue increased approximately 97.13% year over year to ₹392.42 crore, while Profit After Tax more than doubled to ₹36.92 crore. We remain focused on scaling our technology businesses while maintaining financial discipline and investing in platforms that can participate in the next generation of global digital infrastructure," said Ganesh Meenavalli, Managing Director, String Metaverse Ltd.
Macro headwinds
The company's outperformance highlighted a stark divergence between individual stock momentum and broader market sentiment. Domestic indices faced heavy selling pressure as investors weighed the impact of rising crude oil prices. Market participants also remained cautious ahead of crucial inflation readings from both India and the United States.
Volatility risks
For professional investors, the stock's extreme price swings present a cautionary backdrop despite the positive quarterly print. While shares have gained 9.80% over the past week and 39.22% over two weeks, representing a one-month gain of 7.50%, those short-term rebounds barely dent longer-term losses.
The stock has fallen 9.70% over three months, 43.94% over six months, and 61.18% year-to-date. During Wednesday's session, the stock opened at ₹7.01 on the BSE, touching an intraday high of ₹7.17 and a low of ₹6.49.
