Multibagger IT Stock Hit Upper Circuit & 52-Week High After Company’s New U.S. Joint Venture, World Tech Nexus LLC, has received its Business Registration

Sattrix Information Security Limited has officially launched a new U.S. joint venture, World Tech Nexus LLC, in Irvine, California. The joint venture, which includes World Tech Edge PTE. LTD and Mr Ali Yavari are a key part of Sattrix's global expansion plan. It will provide IT and cybersecurity solutions and services to clients in the U.S. and worldwide. This move is a significant step toward the company's long-term goal of becoming a global leader in the cybersecurity industry, known for its innovation and commitment to customer satisfaction. The immediate focus is on selling and distributing specialised IT and cybersecurity solutions, including services for digital transformation, managed services, compliance, and enterprise cybersecurity.

The success of World Tech Nexus LLC is built on the expertise of its co-founding team. The co-founders of World Tech Edge, Mr. Mohammad Mobasseri and Mr. Richard Rundle, bring decades of experience in IT and cybersecurity distribution from the Middle East and Asia-Pacific. Their deep knowledge of regional markets and strategic approach to channel empowerment will be crucial in establishing the new venture as a major player. This collaboration will allow Sattrix to deliver cutting-edge security solutions and address evolving cyber threats with precision, solidifying its position in the U.S. market and furthering its goal of global leadership.

Earlier, the company bagged a new domestic order from its OEM, Tenable Network Security India Private Limited. The company will provide consulting and professional services on a Time and Material basis to Tenable's critical and infrastructure enterprise customers. The services will be delivered according to a mutually agreed-upon scope, timeline, and resource availability, with the total value of the contract being cumulative and based on the time and material model.

About the Company

Sattrix Information Security Ltd, founded in 2013 and also operating through its incorporation in the same year, delivers comprehensive information and cybersecurity services, developing customer-centric solutions and end-to-end services for enterprises across India, the USA, and the UAE; the company specializes in designing and building data security solutions, both on cloud and on-premise, tailored to meet specific client requirements, thereby assisting organizations in safeguarding their data against unauthorized access and various security threats.

On Wednesday, shares of Sattrix Information Security hit a 5 per cent upper circuit to Rs 267.95 from its previous closing of Rs 255.20 per share. The stock also made a 52-week high of Rs 267.95 per share and its 52-week low is Rs 77.95 per share. The company has a market cap of Rs 182.21 crore and the stock has given multibagger returns of over 240 per cent from its 52-week low of Rs 77.95 per share.

Disclaimer: The article is for informational purposes only and not investment advice.