1,425 per cent multibagger returns: Micro-cap company intends to enter into strategic partnership and collaboration with Uni B Solutions, a USA based company

The stock gave multibagger returns of 1,425 per cent from its 52-week low of Rs 39.65 per share.

ITCONS E-Solutions Limited informed that the company intends to enter into strategic partnership and collaboration with Uni B Solutions, a USA based company. This partnership will focus on providing comprehensive and innovative solutions related to designing, implementation, operation and maintenance services to National Highway Authority of India (NHAI) for deployment of a gate-less toll processing solution by utilizing a global navigation satellite system (GNSS) for vehicles traversing toll highways in India.

The above collaboration is subject to final definitive agreement to be executed between the parties and the concrete terms and conditions, roles and responsibilities for each party along with business volume shall be communicated in due course as and when finalized.

Earlier, ITCONS E-Solutions Limited had secured several new contracts. One significant contract was awarded by HCL Technologies Limited, valued at Rs 24,19,000. Under this agreement, ITCONS was to provide staff for store roll-out services for HCL's Airtel Project across 590 stores nationwide, a project spanning one year. Additionally, the company had secured a substantial contract from the National Institute of Biologicals, valued at Rs 17,42,72,248.51, to provide 129 contractual resources for three years. Furthermore, ITCONS had been awarded two contracts by defence entities. The first, from Advanced Weapons and Equipment India Limited, involved providing two skilled employees for a year, valued at Rs 7,77,824.31. The second contract, from the Indian Navy, required the company to provide eight highly skilled data entry operators for a year, valued at Rs 33,55,012.05.

Founded in 2007, ITCONS E-Solutions Ltd has carved a niche in India's human resource landscape. Headquartered in New Delhi, they serve both public and private organizations across diverse industries like IT, FMCG, and food. Their core strength lies in providing a comprehensive suite of HR solutions. This includes permanent and temporary staffing, recruitment process outsourcing, payroll services, and even managed IT services. ITCONS boasts a team of over 800, leveraging their expertise to offer specialised services in various segments, helping businesses find the right talent and streamline their HR processes.

According to the financials, ITCONS E-Solutions has a market cap of Rs 298 crore. The stock gave multibagger returns of 1,425 per cent from its 52-week low of Rs 39.65 per share. The shares of the company have a PE of 154x, an ROE of 15 per cent and an ROCE of 21 per cent.

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