Penny stock under Rs 50: This micro-cap company receives order worth Rs 5,75,96,681 from Ministry of Consumer Affairs Food and Public Distribution!

The stock is up by 35 per cent from its 52-week low of Rs 33.01.

ITCONS E-Solutions Ltd informed that the company has received work order from Ministry of Consumer Affairs Food and Public Distribution, Department of Food and Public Distribution, Central Warehousing Corporation (CWC) Bangalore amounting to Rs 5,75,96,681 for providing manpower services for 2 years which is extendable for further two years without tendering process.

Earlier, the company have has entered into an agreement with Ecom Express Limited for providing recruitment services for general staffing and has entered into an agreement with HDB Financial Services Limited to provide recruitment services for a period of 1 year.

On Friday, shares of ITCONS E-Solutions gained 0.09 per cent to Rs 44.46 per share with an intraday high of Rs 44.46 and an intraday low of Rs 43.86. The stock’s 52-week high is Rs 55.78 and its 52-week low is Rs 33.01.

ITCONS E-Solutions Limited is a New Delhi-situated company engaged in the business of providing human resource services to public and private organizations.

According to the financials, ITCONS E-Solutions has a market cap of Rs 22.36 crore. The company reported positive numbers in its Quarterly Results and annual results. Additionally, the company has reduced its debt and is almost debt-free.

The shares of the company have a PE of 12.9x, an ROE of 24 per cent and an ROCE of 31.7 per cent. The stock is up by 35 per cent from its 52-week low of Rs 33.01. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.