IRIS Business Services Surges 5% Today, Gains 10.71% Over Week Amid Strong Buying Activity

IRIS Business Services Ltd is witnessing significant buying activity, with the stock rising by 5.00% today, outperforming the Sensex, which increased by 0.87%. This marks a notable trend reversal after two consecutive days of decline. Over the past week, IRIS has gained 10.71%, compared to the Sensex's 1.37%, and it has shown a robust 18.51% increase over the past month, while the Sensex rose by 2.54%.
The stock reached an intraday high of Rs 371.7, reflecting a strong upward momentum, although it also experienced a low of Rs 346.6 during the trading session. Notably, IRIS Business Services is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend in its price performance.

The software products sector, particularly BPO/ITeS, has also seen gains, rising by 3.44%, which may contribute to the buying pressure on IRIS. Despite a challenging year-to-date performance of -18.79%, the stock's impressive long-term gains of 391.99% over three years and 918.36% over five years highlight its potential resilience in the market.