Multibagger stock below Rs 10: This micro-cap company receives order worth Rs 10 crore!
The stock gave multibagger returns of 303.03 per cent from its 52-week low of Rs 1.65 per share.
On Tuesday, shares of Gradiente Infotainment Ltd zoomed 5 per cent upper circuit to Rs 6.65 per share from its previous closing of Rs 6.33. The stock has a 52-week high of Rs 9.68 and a 52-week low of Rs 1.65. In the recent trading session, the stock hits back-to-back upper circuit.
Gradiente Infotainment Ltd has bagged a GIS Project from VISICOM, an International Joint Stock company headquartered in Ukraine, for their US operations. This effort is part of Gradiente’s IT Division expansion and diversification plan with a project outlay of Rs 100 million (Rs 10 crore) in IT & ITES business.
The entire expansion of Gradiente is likely to be funded partly by private placement, preferential allotment, debt & ADRs. Currently, Gradiente is actively traded on Bombay Stock Exchange (BSE). The first batch of work has been provided by VISCOM and the billing for the same is expected between April 30 and May 7 2023. This project has a potential to achieve a top-line of Rs 100 million (Rs 10 crore) approx. and a bottom line of Rs 20 million (Rs 2 crore) approx. for the FY 2023-24.
Gradiente Infotainment Ltd is in the business of advertisement, print media, electronic media and TV serial production. Today, shares of the company saw a spurt in volume by more than 3 times on BSE.
The company reported positive numbers in its Quarterly Results and annual results. The promoters have increased their stake in Q4.
The stock gave multibagger returns of 303.03 per cent from its 52-week low of Rs 1.65 per share. Investors should keep an eye on this micro-cap stock.