This micro-cap company secures a substantial deal in partnership with Tech Mahindra!

The shares of the company touched 20 per cent upper circuit today with a spurt in volume by more than 10 times on BSE.

Today, shares of SoftTech Engineers Ltd zoomed 20 per cent upper circuit to an intraday high of Rs 185.60 per share from its previous closing of Rs 154.70. At the closing bell, shares of the company ended the day in green, up 3.43 per cent to Rs 160 per share. The stock is close to its 52-week high of Rs 189.60.

SoftTech Engineers Limited, a leading provider of cutting-edge technology products and solutions for the construction and civil infrastructure sector, announced its recent project win in collaboration with Tech Mahindra, a prominent provider of digital transformation, consulting and business re-engineering services and solutions.  

Listed in Nasdaq, Helsinki, Finland, YIT is 110 years matured European conglomerate (Current revenue Euro 2.4 billion, 5000 employees operating in 9 European countries) creating enhanced living environments with functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for a smoother flow of people, businesses and society.  

SoftTech Engineers Limited provides software solutions. The company develops engineering, construction and architectural software for the infrastructure sector. Today, shares of the company saw a spurt in volume by more than 10 times on BSE.   

SoftTech Engineers has a market cap of Rs 162.50 crore. The net sales zoomed 23 per cent and net profit zoomed 15.71 per cent in Q3FY23 over Q3FY22. In FY22, net sales zoomed 38.23 per cent and net profit zoomed 80.24 per cent over FY21.    

The stock gave multibagger returns of 114.60 per cent from its 52-week low of Rs 88.35. Investors should keep an eye on this micro-cap stock.