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String Metaverse shares hit 5% upper circuit after June-quarter jump

The penny stock traded around ₹7.01 at the open and locked a 5% gain while the Nifty 50 and Sensex were both down by about 0.6% intraday.

Reported · Written up by our desk · Emerging Markets

String Metaverse shares were locked in a 5% upper circuit on August 12, even as India’s broader market stayed weak on rising crude oil prices and caution ahead of key inflation data, LiveMint Markets reported. By 14:31 IST, the Nifty 50 was down 0.62% to 24,325.70 and the Sensex fell 0.68% to 77,623.79.

In its June-quarter update for fiscal year 2027, the company said revenue nearly doubled year on year, rising 97.13% to ₹392.42 crore from ₹199.07 crore a year earlier. Profit after tax surged 101.80% to ₹36.92 crore from ₹18.30 crore.

The company attributed the performance to scaling its technology businesses and expanding its focus across artificial intelligence, blockchain, and digital financial infrastructure. It said it is strengthening its blockchain strategy through Billson Chain and continuing to invest in emerging technologies including tokenised financial systems.

LiveMint Markets also noted the stock opened at ₹7.01 on the BSE, traded as high as ₹7.17 and as low as ₹6.49 during the session. The shares had gained 9.80% over the past week and 39.22% over the last two weeks, but were still down 61.18% year to date, the outlet said.

Latest closeWTI crude $83.42 ▲1.6%|Sensex 78,542.44 ▲0.1%

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