IT infrastructure stock hit 5% upper circuit after company received an order worth Rs 46.43 Crores per year for three years
DSIJ Intelligence-2Categories: Mindshare, Trending
The stock gave multibagger returns of 23.88 per cent from its 52-week low of Rs 150.15 per share.
Esconet Technologies Limited announced today that it has secured a significant contract worth approximately Rs 46.43 Crores per year for a period of three years from a reputable domestic multinational ITeS corporate house. The contract is for Enterprise Software Licensing and Professional Support services, and it is subject to customer calls at fixed prices from the next fiscal year. The order was awarded by a domestic entity.
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On Wednesday, shares of Esconet Technologies Limited hit 5 per cent upper circuit to Rs 185.95 per share from its previous closing of Rs 177.10 per share. The stock’s 52-week high is Rs 150.15 per share and its 52-week low is Rs 539.95 per share.
Esconet Technologies Ltd, a leading IT solutions provider, offers a comprehensive range of services including high-performance supercomputing, data center facilities, cloud computing, and cybersecurity solutions. With a strong focus on innovation, the company has partnered with industry giants like AWS, Cisco, Red Hat, Dell, AMD, Microsoft, Nvidia, HP, VMware, and Intel to deliver cutting-edge solutions to clients across diverse sectors. Esconet's clientele includes prominent organizations such as Adobe, Bharat Electronics, Eli Research, NIC, Motherson, Indiabulls, Hanon, Siemens, ONGC and Indian Oil, among others.
The company has a market cap of Rs 245 crore with an ROE of 18 per cent and an ROCE of 13 per cent. The stock gave multibagger returns of 23.88 per cent from its 52-week low of Rs 150.15 per share.
Disclaimer: The article is for informational purposes only and not investment advice.