Water Theme Multibagger Small-Cap Stock: Receives 44% of Order in a Single Day, Stock Hits 52-Week High
With a growing order book and increasing government focus on water management, it’s no surprise that this stock has turned into a multibagger
Indian equity benchmarks have trimmed their gains and are now trading with Nifty up by 0.49 per cent and Sensex by 0.41 per cent. India VIX has eased by 5 per cent, slipping below the level of 14. The Bank Nifty has also trimmed over 650 points from the day’s high. Amidst this market correction, one stock that has shown no signs of slowing down is Ceinsys Tech Ltd.
Ceinsys Tech Ltd. is a technology-driven organization specializing in providing geospatial, enterprise, and engineering solutions. It offers independent opinions, actionable insights, and efficient solutions to customers across private and government enterprises in the utility, infrastructure, natural resources, and manufacturing sectors.
Shares of Ceinsys Tech, a Small-Cap company with a market cap of Rs 1,382 crore, have surged over 17 per cent, reaching a fresh 52-week high. The rally is primarily driven by the Letter of Award received from the State Water and Sanitation Mission (SWSM), Water Supply and Sanitation Department (WSSD), Government of Maharashtra, for Phase II, amounting to Rs 331.61 crore.
Ceinsys Tech Limited has been awarded this Letter for the Appointment of System Integrators (SIs) for IoT Deployment, including Design, Implementation, & Maintenance, with a Centralized IoT Platform for Jal Jeevan Mission Projects in Maharashtra under Phase II.
As of June 30, 2024, Ceinsys Tech has an outstanding order book of Rs 750 crore, which has grown at a double-digit rate. The company is expected to benefit from the government’s focus on areas like urban development, water management, and energy security.
This is a significant order for the company, as nearly 44 per cent of the order book as of June 30, 2024, was received in a single day. With a growing order book and increasing government focus on water management, it’s no surprise that this stock has turned into a multibagger, delivering over 200 per cent returns in one year and 137 per cent year-to-date (YTD) returns.
Disclaimer: The article is for informational purposes only and not investment advice.