Multibagger IT Stock Hit Upper Circuit After Bagging Orders from Tenable Network Security India Pvt Ltd

Sattrix Information Security Limited has 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.

Earlier, the company received a domestic order worth Rs 10.88 crore from a leading private sector bank in India. The contract is for the supply of License Services for a period of 12 months. The company will receive 100% payment within 30 days after the license is delivered. This order is a significant win for the company's services division.

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 Thursday, shares of Sattrix Information Security hit a 5 per cent lower circuit to Rs 220.50 per share from its previous closing of Rs 210 per share. The stock’s 52-week high is Rs 213 per share and its 52-week low is Rs 77.95 per share. The company has a market cap of Rs 143 crore and the stock has given multibagger returns of over 180 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.