Heavy buying: Back-to-back upper circuit in this multibagger stock; bags new order worth Rs 2,79,70,425!

Shares of the company gained more than 180 per cent in the last six months.

Shares of Ceinsys Tech Limited were locked in the upper circuit on Monday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. Recently, Brihanmumbai Municipal Corporation (BMC) has awarded Ceinsys Tech Limited a contract worth Rs. 2,79,70,425 for the renewal of 35 AutoCAD severe-based licenses. This three-year renewal, valid from April 26, 2024, to April 25, 2027, strengthens Ceinsys Tech's position in the engineering software licensing space.

The shares of Ceinsys Tech Limited have also delivered multibagger returns to its shareholders in the last one year. During this period, the company's share price surged from Rs 130.60 on March 20, 2023, to Rs 550.00 on March 18, 2024, representing an increase of about 300 per cent in a one-year holding period.

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The company posted robust Quarterly Results. The revenue of the company for Q3FY24 stood at Rs 62.58 crore which increased by 20.14 per cent YoY. The operating profit of the company stood at Rs 11.32 crore, while the PAT of the company stood at Rs 6.89 crore, from a profit of Rs 1.54 crore last year same quarter.

Ceinsys Tech Limited, is a part of the conglomerate Meghe Group of Institutions, provides Engineering, Geospatial & IT solutions. It was incorporated in 1998. It specializes in designing, capturing, storing, analyzing, and managing all types of geographical data.

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.