This small-cap IT stock secured an order worth Rs 34 crore!

The stock was listed on February 18, 2022 on BSE & NSE and till date the stock is up by 60.64 per cent.

On Friday, the benchmark indices ended the day in green. BSE Sensex Index surged 0.04 per cent at a level of 57,960.09. On the sectoral front, the indices were trading higher, with the BSE IT Index and BSE FMCG Index leading the gainers.  

The shares of Dev Information Technology zoomed 2.76 per cent from its previous closing of Rs 97.31 to Rs 100 per share. The stock traded at an intraday high of Rs 103.50 per share and an intraday low of Rs 96 per share. The shares of the company saw spurt in volume by more than 2 times on BSE.

The company informed that it has secured a noteworthy order from Gujarat Informatics Limited from the ‘Department of Science and Technology Gujarat’ for Relational Database Management System Software (RDBMS) platform used in the digital portal for providing various services. The order is worth approx. Rs 34 crore and will be executed in 2 months.    

Dev Information Technology Ltd has a market cap of Rs 222 crore. The company is an end-to-end technology solutions provider delivering digital transformation leveraging cloud, automation and data technologies. In Q3FY22, the company reported a net loss of Rs 0.29 crore but in Q3FY23 it skyrocketed to a net profit of Rs 2.66 crore.   

The stock was listed on February 18, 2022 on BSE & NSE and till date the stock is up by 60.64 per cent. Investors should keep this IT stock under the radar.