Multibagger IT infrastructure stock hit upper circuit after company received an order worth Rs 29.23 crore from Indian Oil Corporation Limited

The company has a market cap of Rs 592 crore with an ROE of 25 per cent and an ROCE of 32 per cent.

Esconet Technologies Limited announced that it has received a new order from Indian Oil Corporation Limited for setting up, operating and maintaining a Disaster Recovery site at Bangalore for RHQ-DC. The total contract value is Rs 29.23 crore. The scope of work will be in accordance with the Purchase Order received and Conditions specified therein. The contract is for a period of 5 years.

On Wednesday, shares of Esconet Technologies Limited hit 5 per cent upper circuit to Rs 479 per share from its previous closing of Rs 456.20 per share. The stock’s 52-week high is Rs 539.65 per share and its 52-week low is Rs 142 per share.

Esconet Technologies Ltd, a leading IT solutions provider, offers a comprehensive range of services including high-performance supercomputing, data center facilities, cloud computing, and cybersecurity solutions. With a strong focus on innovation, the company has partnered with industry giants like AWS, Cisco, Red Hat, Dell, AMD, Microsoft, Nvidia, HP, VMware, and Intel to deliver cutting-edge solutions to clients across diverse sectors. Esconet's clientele includes prominent organizations such as Adobe, Bharat Electronics, Eli Research, NIC, Motherson, Indiabulls, Hanon, Siemens, ONGC and Indian Oil, among others.

The company has a market cap of Rs 592 crore with an ROE of 25 per cent and an ROCE of 32 per cent. The stock gave multibagger returns of 237 per cent from its 52-week low of Rs 142 per share.Investors should keep an eye on this multibagger IT infrastructure stock.

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