1,450 per cent multibagger returns: Micro-Cap Company Bags Rs 2,13,82,545.64 Orders From Ministry of Defence
The stock gave multibagger returns of 1,450 per cent from its 52-week low of Rs 39.65 per share.
ITCONS E-Solutions Limited has secured two significant orders from the Ministry of Defence, totalling Rs 2,13,82,545.64. The first order, worth Rs 5,71,223.64, is from the Directorate of Standardisation for providing manpower services for a year. The second order, valued at Rs 2,08,11,322, is from the Office of DG (MSS) for hiring 39 skilled personnel for a period of 18 months. Both orders are awarded to ITCONS E-Solutions Limited as a domestic entity.
Earlier, the company announced plans to form a strategic partnership with Uni B Solutions, a US-based company. This collaboration aims to deliver comprehensive and innovative solutions for designing, implementing, operating, and maintaining a gate-less toll processing system for the National Highway Authority of India (NHAI). The system will leverage Global Navigation Satellite System (GNSS) technology to enable toll collection from vehicles traversing Indian highways without physical toll gates. The final terms of the partnership, including specific roles, responsibilities, and business volumes, will be disclosed once a definitive agreement is executed between the two parties.
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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 305 crore. The stock gave multibagger returns of 1,450 per cent from its 52-week low of Rs 39.65 per share. The company's shares have a PE of 125x, 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.