Multibagger IT Stock Hit Lower Circuit After Bagging Order Worth Rs 2,13,33,000 from CSB Bank Ltd
The company has a market cap of Rs 136 crore and the stock has given multibagger returns of over 150 per cent from its 52-week low of Rs 77.95 per share.
Sattrix Information Security Limited has secured a significant domestic order from CSB Bank Limited for the supply of License Services. This contract, valued at Rs 2,13,33,000, entails providing license services for 12 months. The order is to be executed within this 12-month timeframe.
Earlier, the company signed a Memorandum of Understanding (MoU) with Strolling Digital, a Spanish company, to form a joint venture in Spain, aiming to expand Sattrix's cybersecurity footprint across the European Union. This strategic partnership, with a 75:25 joint venture ratio in favour of Sattrix, will leverage Sattrix's technical expertise and Strolling Digital's local market knowledge to provide specialized cybersecurity and digital transformation services, with initial focus on Spain. The collaboration is expected to significantly enhance Sattrix's global market reach and service offerings in the coming years.
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Sattrix Information Security Ltd, founded in 2013 and also operating through its incorporation in the same year, delivers comprehensive information and cybersecurity services, developing customer-centric solutions and end-to-end services for enterprises across India, the USA, and the UAE; the company specializes in designing and building data security solutions, both on cloud and on-premise, tailored to meet specific client requirements, thereby assisting organizations in safeguarding their data against unauthorized access and various security threats.
On Tuesday, shares of Sattrix Information Security hit a 2 per cent lower circuit to Rs 199.70 per share from its previous closing of Rs 203.75 per share. The stock’s 52-week high is Rs 254 per share and its 52-week low is Rs 77.95 per share. The company has a market cap of Rs 136 crore and the stock has given multibagger returns of over 150 per cent from its 52-week low of Rs 77.95 per share.
Disclaimer: The article is for informational purposes only and not investment advice.