Upper circuit alert: This multibagger micro-cap engineering & IT solutions company bags Rs 248.39 crore work order from Government of Maharashtra!

Shares of the company have gained about 40 per cent in the last one month.

Shares of Ceinsys Tech Limited were locked in the upper circuit on Thursday, gaining 20.00 per cent. The stock witnessed heavy buying activity from investors yesterday. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 100 per cent.

The company has recently bagged an order worth Rs 248.39 crore from the State Water and Sanitation Mission (SWSM), Water Supply and Sanitation Department (WSSD), Government of Maharashtra. The order is for the appointment of System Integrators (SI’s) for IoT Deployment including design, implementation & maintenance with a centralized IoT platform for Jal Jeevan Mission Projects in the State of Maharashtra.

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Ceinsys Tech Limited is a part of the conglomerate Meghe Group of Institutions, which provides Engineering, Geospatial & IT solutions. It was incorporated in 1998. It specializes in designing, capturing, storing, analyzing and managing all types of geographical data. Its services include GIS, Remote Sensing, LiDAR (Light Detection and Ranging), Photogrammetry, Energy systems and solutions, etc.

The sales and revenue for the company are constantly increasing, with net profit in FY23 growing by 210 per cent annually. Ceinsys Tech Limited has also delivered multibagger returns to its shareholders in the last one year of about 100 per cent.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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