Only buyers: Shares of this micro-cap company hit the 10 per cent upper circuit after securing an order from BSNL
Over the past five trading sessions, the shares have demonstrated an impressive rally of around 25 per cent.
The Indian headline indices concluded the trading session on a higher note, with market optimism fuelled by an impressive gain of over 6 per cent in both the BSE Utilities and BSE Power sectors. In contrast, broader indices were able to secure modest gains during the trading session. With 1,787 shares rising on the BSE and 1,969 shares declining, the advance-decline ratio remained in favour of declines.
Globesecure Technologies Ltd, a micro-cap company, garnered significant attention with the announcement of securing a work order from Bharat Sanchar Nigam Limited (BSNL). The order entails providing last-mile FTTH connections in service-ready GPs over a three-year period. The total value of the agreement is Rs 80 crore, covering 7,900 GPs. Currently, the company has received a work order for 576 GPs.
The company's shares experienced a notable surge in buying activity, hitting the upper circuit of 10 per cent at Rs 79.35 per share on the NSE. Shares witnessed a modest decline later and concluded the session with a 9.15 per cent increase, reaching Rs 78.75 on the NSE. Over the past five trading sessions, the shares have demonstrated an impressive rally of approximately 25 per cent.
The company specializes in digital transformation, particularly in the realm of cybersecurity. It has successfully undertaken projects related to cybersecurity transformation, infrastructure development, and digital transformation for diverse institutions. Additionally, the company offers independent services such as consultation, architecture, solution design, implementation, monitoring, and the provision of managed services in the same domain.
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Disclaimer: The article is for informational purposes only and not investment advice.