Multibagger stock below Rs 50: This small-cap company wins a contract worth Rs 16.29 crore!
The shares of the company zoomed over 7 per cent today.
3i Infotech Ltd, a global Information Technology company, committed to accelerating business transformation, has received a Letter of Acceptance from Indian Oil Corporation Limited (IOCL), the nation’s largest refiner and fossil fuel retailer, pertaining to Managed Services for the Data Centre (DC) IT Infrastructure as part of its contract renewal in the new financial year. The total contract value is Rs 16.29 crore for a period of 3 years.
Today, shares of 3i Infotech Ltd zoomed 7.52 per cent to Rs 33.90 per share from its previous closing of Rs 31.53. The stock has a 52-week high of Rs 74.50 and a 52-week low of Rs 29.88. Additionally, the stock gave multibagger returns of over 125 per cent in just 3 years.
3i Infotech is a Global Information Technology Company as a back-office processing company by ICICI Ltd. The company's business activities are divided into two categories viz: IT solutions and transactions. The company has a presence in more than 50 countries.
The company has a market cap of Rs 565 crore. According to the Quarterly Results (Q3), the company reported excellent numbers.
The stock has a PE of 5.61x whereas the sectoral PE is 31.32x. Investors should keep an eye on this multibagger Small-Cap stock.