Multibagger stock below Rs 10: This micro-cap company receives an order worth Rs 10 crore!

The stock gave multibagger returns of 331.51 per cent from its 52-week low of Rs 1.65 per share.

On Friday, shares of Gradiente Infotainment Ltd zoomed 5 per cent upper circuit to Rs 7.12 per share from its previous closing of Rs 6.79. In the recent trading session, the stock hit back-to-back upper circuits. At, 03:30 pm, shares ended the day at Rs 7.05 per share, up 3.28 per cent.  

Gradiente Infotainment Ltd has bagged a GIS Project from VISICOM, an International Joint Stock company headquartered in Ukraine, for their US operations. This effort is part of Gradiente’s IT Division expansion and diversification plan with project outlays of Rs 10 crore in IT & ITES business.   

The entire expansion of Gradiente is likely to be funded partly by private placement, preferential allotment, debt & ADRs. The company completed its first round of funding by way of preferential allotment of 16,807,600 equity shares at Rs 10 per share, thereby increasing its authorized capital to 4 crore shares & paid-up equity to 3.94 crore shares.  

The first batch of work has been provided by VISCOM and the billing for the same is expected between April 30 and May 7, 2023. This project has the potential to achieve a top-line of Rs 10 crore approx. and a bottom line of Rs 2 crore approx. for the FY 2023-24.  

Gradiente Infotainment Ltd is in the business of advertisement, print media, electronic media and TV serial production.  

The company reported positive numbers in its Quarterly Results and annual results. The promoters have increased their stake in Q4.   

The stock gave multibagger returns of 331.51 per cent from its 52-week low of Rs 1.65 per share. Investors should keep an eye on this micro-cap stock.