Multibagger penny stock under Rs 50 with 1,200 per cent returns: This small-cap IT company receives order worth Rs 39.55 crore from Ujjivan Small Finance Bank Limited!

The stock gave multibagger returns of 385 per cent in 2 years and a whopping 1,250 per cent in the span of 3 years.

Today, shares of 3i Infotech Ltd surged 1.36 per cent to Rs 40.76 per share from its previous closing of Rs 41.32. The stock has a 52-week high of Rs 46.35 and a 52-week low of Rs 25.93.

3i Infotech Limited (BSE: 532628, NSE: 3IINFOLTD), an eminent global Information Technology company devoted to propelling business transformation, informed that the company has been awarded the contract by Ujjivan Small Finance Bank Limited, for end-user support service (Workplace Services). The total contract value is approximately Rs 39.55 crore plus one-time transition charges of Rs 35 lakhs, spread across 5 years. The contract is for a period of 5 years starting from October 1, 2023, to September 30, 2028, with the option to extend the contract with mutual agreement.

3i Infotech is a Global Information Technology Company as a back-office processing company by ICICI Ltd. The company's business activities are divided into two categories viz: IT solutions and transactions. The company has a presence in more than 50 countries.

The company has a market cap of Rs 695 crore. According to the annual results (FY23), the net sales increased by 8 per cent to Rs 729 crore in FY23 over FY22. The company reported a net profit of Rs 1 crore in FY23 compared to a net loss of Rs 57 crore in FY22.

The stock gave multibagger returns of 385 per cent in 2 years and a whopping 1,250 per cent in the span of 3 years. Investors should keep an eye on this Small-Cap IT stock.

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