Penny stock under Rs 10: Back-to-back upper circuit in this multibagger IT stock; bags new order worth Rs 74.32 crore!
Shares of the company have gained more than 60 per cent in the last six months.
Shares of Vama Industries Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained more than 60 per cent. The stock also made a new 52 week high on Friday.
Recently, Vama Industries has secured a significant supply order worth Rs. 74.32 crore from NewSpace India Limited (NSIL), a government agency under India's Department of Space. This contract involves supplying Hierarchical Storage Management (HSM) systems and servers for a Central Archival Facility (CAF) on a turnkey basis. The project includes installation, commissioning, data migration, training, warranty, and support services for 7 years after installation. This domestic order is expected to be completed within 24 weeks and strengthens Vama Industries' position in the IT sector.
The company posted weak Quarterly Results. The revenue of the company for Q4FY24 stood at Rs 1.16 crore which decreased by 75.24 per cent YoY. The operating profit of the company stood at a loss of Rs 2.88 crore, while the PAT of the company stood at a loss of Rs 2.51 crore.
Vama Industries Limited undertakes business of system study, analysis design, development and implementation of software systems of all kinds for usage of computer systems, communication system or combination of computer and communication system for using in Government, Industry, Business or other fields activity. The company also in the business segment of Hardware Sales and Services, Software Development and Services. The stock has gained over 100 per cent from its 52-week low.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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