Penny stock at Rs 14.79: This micro-cap company bags new order worth Rs 1,00,00,000 from BSNL Chennai Telephones

From Rs 4.25 to Rs 14.79 per share, the stock gave multibagger returns of 248 per cent in 3 years whereas BSE Information Technology Index is up by 29 per cent in the same period.

Mudunuru Ltd has been awarded a 3-year contract by BSNL Chennai Telephones to provide an SMS Aggregating Solution for the Indian Overseas Bank (IOB). This domestically awarded contract is expected to see growth over the term as IOB's SMS volume is anticipated to rise. The contract value is approximately Rs1,00,00,000 and there are no conflicts of interest between Mudunuru Ltd, its promoters, group companies, and BSNL Chennai Telephones.

Mudunuru Ltd, founded in 1994, is a software company offering a wide range of services including application development using biometric technologies, Internet of Things (IoT) solutions, cybersecurity, smart city initiatives, big data analytics, blockchain technology, data center cloud services, business process outsourcing, knowledge process outsourcing, and ICT products and solutions. They are further specialized in Fintech, IDTech, EdTech, SmartCityTech, and Research & Development.

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Today, shares of Mudunuru Ltd hit 5 per cent upper circuit to Rs 14.79 per share. The stock’s 52-week high is Rs 15.57 per share while its 52-week low is Rs 10.56 per share. The company has a market cap of Rs 42 crore with a 3-year stock price CAGR of 60 per cent.

From Rs 4.25 to Rs 14.79 per share, the stock gave multibagger returns of 248 per cent in 3 years whereas BSE Information Technology Index is up by 29 per cent in the same period.

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