Multibagger Stock Under Rs 120: This IT-Company Receives Order Worth Rs 86,00,000 From Media Informatics Division of National Informatics Centre (NIC)
The stock gave returns of 12 per cent in just 1 year and 230 per cent in the last 5 years.
Dev Information Technology Limited (DEVIT) has secured a significant order from the Media Informatics Division of National Informatics Centre (NIC), Ministry of Electronics and Information Technology, Government of India. The order, valued at approximately Rs 86 lakh, is for Data Analytics, UI/UX Creative Design, and other digital media solutions.
The contract, classified as a fixed-cost domestic order, is expected to be executed within one year. DEVIT has confirmed that neither its promoters nor its group companies have any interest in NIC, and the order does not fall within related party transactions.
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This development strengthens DEVIT’s position in the digital transformation and enterprise solutions sector, further reinforcing its presence in government-led technology initiatives.
According to the Quarterly Results, the total income increased by 51 per cent to Rs 48.15 crore and net profit increased by 6 per cent to Rs 1.82 crore in Q3FY25 compared to Q3FY24. In FY24, net sales increased by 32 per cent to Rs 163.58 crore and net profit increased by 5 per cent to Rs 9.48 crore compared to FY23.
Incorporated in 1997, Dev Information Technology Ltd is in the business of providing IT enabled services.
On Tuesday, shares of Dev Information Technology Ltd jumped over 1.5 per cent to Rs 121 per share from its previous closing. The stock gave returns of 12 per cent in just 1 year and 230 per cent in the last 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.