Penny stock under Rs 90 is in focus as the company bags orders worth Rs 16,80,00,000; Details inside
The stock is up by 63.5 per cent from its 52-week low of Rs 52.05 per share.
Service Care Limited has entered into a Letter of Intent (LOI) with an IT system integration company to establish and manage a large data center in Mumbai. This one-year project involves the deployment, execution, and management of the data center. The order has been awarded by a domestic entity and carries a broad consideration of Rs 5 crores plus.
Additionally, the company has secured a major new project in its Workforce Administration vertical. This 2.5-year contract, valued at Rs 11.8 crore, involves supplying manpower to a large infrastructure development company in Mumbai. Additionally, Service Care has been empanelled with new clients in the Insurance and FMCG sectors for its recruitment services, solidifying its position in the domestic market. This signifies a significant growth opportunity for the company over the next 30 months.
Service Care Ltd, established in 2011, provides comprehensive facility management and workforce solutions across various industries. Their Workspace Administration Services encompass hard and soft services, guest house management, and other administrative tasks, ensuring smooth day-to-day operations for over 200 clients. Additionally, their Workforce Administration service offers temporary staffing solutions to address domain-specific needs.
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With a team of over 5,800 associates, Service Care caters to a diverse clientele spanning engineering, education, manufacturing, infrastructure, government, banking, information technology, healthcare, staffing, recruitment, food, and FMCG sectors.
The company has a market cap of Rs 94 crore with a PE of 20x, an ROE of 20 per cent and an ROCE of 19 per cent. The stock is up by 63.5 per cent from its 52-week low of Rs 52.05 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.