Multibagger stock under Rs 60 jumps 19 per cent after receiving order worth Rs 72 crore from RailTel Corporation of India Ltd!

The stock has a PE of 16.90x whereas the industry PE is 36.50x and generated multibagger returns of 165 per cent in just 3 years.

Vedavaag Systems Ltd secured an order worth around Rs 72 crores for implementation of SITCM of IP Based Video Surveillance Systems (VSS) covering 1002 railway stations under the Western Region of Railways from IRIS Global Services Pvt Ltd., New Delhi

We are happy to inform you that VEDAVAAG SYSTEMS LTD., has entered into an MoU with IRIS Global Services Private Limited, New Delhi for the implementation of IP based Video Surveillance System (VSS). The project scope includes “Supply, Installation, Testing, Commissioning, integration with existing VSS infra, operation and maintenance (SITCM) of IP based Video Surveillance systems (VSS)” at D&E category railway stations of Western Region. IRIS Global has secured the order from RAILTEL Corporation of India Limited.

The project envisages the installation of CCTV cameras in 1002 railway stations of the D & E category spread across the states - Madhya Pradesh, Maharashtra, Gujarat, Karnataka, Chhattisgarh, Rajasthan and Uttar Pradesh states. The value of the project is estimated at Rs. 72 crores.

On Friday, one of the Top Gainers on BSE, shares of Vedavaag Systems Ltd surged 19.45 per cent to an intraday high of Rs 60.80 per share. At the closing bell, shares of the company were trading at Rs 55.01 per share, up 8.07 per cent with a spurt in volume by more than 6.07 times on BSE.

Vedavaag Systems Ltd develops and markets computer software. It is principally engaged in IT Sales and Services like eGovernance & Citizen Services, Banking and Insurance Services.

The stock has a PE of 16.90x whereas the industry PE is 36.50x and generated multibagger returns of 165 per cent in just 3 years. Investors should keep a close eye on this micro-cap stock.