Multibagger penny stock at Rs 25.55 hit 52-week high as the company bags new order worth Rs 23 crore from Samagra Shiksha, Dehradun

The stock gave multibagger returns of 160 per cent in just 1 year whereas BSE Sensex Index was up by 23 per cent in the same period.

Today, shares of Alankit Ltd zoomed per cent and made a fresh new 52-week high of Rs 25.55 per share from its previous closing of Rs 23.69.

The recent surge in Alankit Limited's stock price can be attributed to a significant announcement regarding a contract awarded by Samagra Shiksha, Dehradun. The company secured a prestigious Rs 23 crore contract to onboard 955 teachers across 13 districts of Uttarakhand. This initiative not only contributes to enhancing the quality of education in the state but also streamlines the teacher recruitment process. To efficiently manage this project, Alankit Limited has inaugurated a new operational hub in Dehradun and commenced work. These developments highlight the company's commitment to operational excellence and its dedication to advancing the educational sector, which has likely resonated with investors and fuelled the stock price increase.

Alankit Ltd., founded in 1989, is a leading Indian company in e-Governance services, offering a variety of products and related services. As the flagship company of the Alankit conglomerate, they are known for their expertise in finance, regulatory technology, channel business, managed services, and technology solutions. They partner with various government departments to improve transparency and efficiency, facilitating the delivery of services to the public.

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Their services include acting as a GST Suvidha Provider, TIN Facilitation Center and PAN Center, as well as an authorized agent for National Insurance, National Skills Registry and Atal Pension Yojana. They are also a Business Correspondent, providing Aadhaar services and acting as a National Distributor for Smart Card Printers. Additionally, they sell printers, ribbons and PVC cards used for printing government cards.

The company has a market cap of Rs 650 crore. The stock gave multibagger returns of 160 per cent in just 1 year whereas BSE Sensex Index was up by 23 per cent in the same period. Investors should keep an eye on this micro-cap stock.

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