Penny stock under Rs 10: This micro-cap company bags new order worth Rs 2,20,00,000 from BSNL Bangalore
The promoters of the company own a 51.50 per cent stake and the rest 48.50 per cent stake is owned by public shareholders with 645 shareholders as of June 2024.
Mudunuru Ltd, a domestic company, has been awarded a contract by BSNL Bangalore, a domestic entity, to provide a comprehensive SMS aggregating solution to Indian Bank. The project entails the integration of various hardware, software and middleware components to ensure seamless operation. The contract is valued at Rs 2.20 crore per year and has an initial execution period of nine months. There is also a provision for yearly extensions of up to three years, allowing for flexibility in the project timeline. This contract is significant for Mudunuru Ltd as it demonstrates their expertise in providing system integration services and their ability to cater to the needs of major domestic banks.
Mudunuru Ltd, founded in 1994, is a software company offering a wide range of services including application development using biometric technologies, Internet of Things (IoT) solutions, cybersecurity, smart city initiatives, big data analytics, blockchain technology, data center cloud services, business process outsourcing, knowledge process outsourcing, and ICT products and solutions. They are further specialized in Fintech, IDTech, EdTech, SmartCityTech and Research & Development.
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On Monday, shares of Mudunuru Ltd hit a 5 per cent lower circuit to Rs 9.89 per share. The stock’s 52-week high is Rs 15.57 per share while its 52-week low is Rs 9.01 per share. The company has a market cap of Rs 30.86 crore. The promoters of the company own a 51.50 per cent stake and the rest 48.50 per cent stake is owned by public shareholders with 645 shareholders as of June 2024.
Disclaimer: The article is for informational purposes only and not investment advice.
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