Multibagger penny stock under Rs 10 hit the upper circuit as the company is being shortlisted for a prestigious project of the Indian Armed Forces
The shares of the company saw a spurt in volume by more than 3.4 times on BSE and gave multibagger returns of 156 per cent from its 52-week low of Rs 3.76 per share.
Scanpoint Geomatics Limited has successfully achieved a significant milestone by being shortlisted for a prestigious project of the Indian armed forces, specifically under the "MAKE-1I" and IDDM (Indian Design Development and Manufacturing) initiatives. This project aims to promote indigenous design, development and manufacturing capabilities for the armed forces.
The company's participation in the Expression of Interest (EOI) floated by a unit of the armed forces demonstrates its capabilities in providing cutting-edge geospatial solutions. The issuance of the Request for Proposal (RFP) to Scanpoint Geomatics Limited is a testament to its expertise and potential to contribute to the country's defence sector.
About the Company
Scanpoint Geomatics Ltd, a pioneer in GIS-based software development, was established in 1992. The company's flagship product, IGiS, is a comprehensive geospatial platform that integrates GIS, image processing, photogrammetry and CAD functionalities. IGiS empowers users to create, view, analyze and manage geospatial data efficiently. Scanpoint offers a wide range of solutions tailored to various industries, including agriculture, defence, forestry, disaster management, land information, mining, power, smart cities, urban planning, utilities and location-based services. The company's strategic partnership with ISRO provides valuable domain expertise and enhances its ability to deliver innovative and cutting-edge geospatial solutions.
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On Tuesday, shares of Scanpoint Geomatics Ltd hit a 5 per cent upper circuit to an intraday high of Rs 9.62 per share from its previous closing of Rs 9.17 per share. The shares of the company saw a spurt in volume by more than 3.4 times on BSE and gave multibagger returns of 156 per cent from its 52-week low of Rs 3.76 per share. The company has a market cap of Rs 154.15 crore and investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.