52-week high alert in this multibagger stock: This micro-cap IT company secured an order worth Rs 94,33,602 from Government of India!
The stock was listed on February 18, 2022 on BSE & NSE and till date the stock is up by 144 per cent.
On Wednesday, the benchmark indices ended the day in the green. BSE Sensex Index surged 0.03 per cent at a level of 63,523.15. On the sectoral front, the indices were trading mixed, with the BSE IT Index up by 0.36 per cent at Rs 29,410.83. The BSE Sensex Index touched an all-time high at a level of 63,588.31.
The shares of Dev Information Technology zoomed 5 per cent from its previous closing of Rs 152.10 to Rs 159.70 per share. The stock also traded at a 52-week high of Rs 159.70 per share. At the closing bell, shares of the company are trading at Rs 158 per share, up 3.88 per cent.
The company informed that it has secured a noteworthy Work Order from the International Financial Services Centres Authority, a regulatory authority of the Government of India, for the Re-Design, Development and Maintenance of the IFSCA Website. The order is worth Rs 94,33,602 and will be completed in 48 months from LOI.
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Dev Information Technology Ltd has a market cap of Rs 353.23 crore. The company is an end-to-end technology solutions provider delivering digital transformation leveraging cloud, automation, and data technologies. The company reported amazing numbers in its Quarterly Results (Q4) and annual results (FY23). The shares of the company saw a spurt in volume by more than 31.31 times on BSE.
The shares of the company gave multibagger returns of 106 per cent in just 1 year. The stock was listed on February 18, 2022 on BSE & NSE and till date, the stock is up by 144 per cent. Investors should keep this IT stock under the radar.