40 per cent from its 52-week low in this penny stock: This micro-cap company has entered into an MoU with Ecom Express Limited!

The stock is up by 40 per cent from its 52-week low of Rs 33.01.

ITCONS E-Solutions Ltd informed that the company has entered into an agreement with Ecom Express Limited to provide temp staffing services for the blue-collar workforce on ITCONS payroll. The quantum and number of resources will depend upon the requirement of the client raised from time to time.

Earlier, the company received a work order from the 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.

On Friday, shares of ITCONS E-Solutions gained 1.47 per cent to Rs 46.24 per share with an intraday high of Rs 46.47 and an intraday low of Rs 44,60. 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 23,.25 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 40 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.