Penny stock under Rs 2 hits lower circuit as promoters to increase stake up to 13 per cent within the year and company bags order worth Rs 10 crore!
The stock is up by 78.6 per cent from its 52-week low of Re 0.84 per share.
On Monday, shares of GACM Technologies Ltd were locked in a 5 per cent lower circuit to Rs 1.50 per share from its previous closing of Rs 1.57 per share. The company has a market cap of over Rs 100 crore and working capital requirements have reduced from 190 days to 25.8 days. The stock is up by 78.6 per cent from its 52-week low of Re 0.84 per share.
GACM Technologies Limited announced that its promoters and promoter groups intend to increase their stake in the company to up to 13 per cent within the year. This strategic move underscores their unwavering confidence in the company's growth potential.
GACM Technologies Ltd. has achieved a significant milestone by securing a substantial Rs 10 crore project from MSK Technologies (India) Private Limited. This strategic win reinforces GACM's position as a leading IT solutions provider, as it will involve resource augmentation and consulting services leveraging GACM's expertise. The project will be executed both onsite and offshore and is expected to generate a significant gross profit margin of approximately 55-60 per cent. This not only contributes to GACM's revenue and profitability in the current financial year but also solidifies its market position.
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GACM Technologies Ltd, established in 1995, offers financial consultancy and technology solutions. The company's recent expansion into the IT sector includes software development, web applications, IT services, hardware maintenance, outsourcing, training and consultancy in various fields. Additionally, GACM has ventured into broadcasting and cable services, diversifying its operations to cater to a wider range of industries.
Disclaimer: The article is for informational purposes only and not investment advice.
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