Government of Andhra Pradesh-backed Multibager penny stock under Rs 25: Company bags new order worth Rs 3.19 crore from Eastern Power Distribution Company Ltd

The stock gave multibagger returns of 420 per cent in 3 year and a whopping 2,275 per cent in 5 years.

Variman Global Enterprises Limited has secured a domestic purchase order valued at Rs. 3.19 crores from Eastern Power Distribution Company of A.P. Limited to supply 678 units of Acer make Veriton X4240G model desktop computers by August 31, 2024. The order includes 27 desktops for the IT wing and 651 for other departments, encompassing installation, testing, and commissioning.

Variman Global Enterprises Ltd, established in 1993, is an IT solutions company operating primarily in Telangana. The company's core business encompasses IT infrastructure solutions covering products, enterprise computing, data storage, networking, security and virtualization; IT distribution of brands like HP, LG and Eaton; software development specializing in Salesforce ecosystem transformation; and corporate gifting solutions with a vast product catalogue and customization services. Catering to over 800 online and offline clients, VGEL acts as a strategic bridge between vendors and partners across sectors like IT, manufacturing, education, finance, healthcare and government.

On Wednesday, shares of Variman Global Enterprises Limited hit 5 per cent upper circuit to Rs 20.88 per share from its previous closing of Rs 19.89. The stock’s 52-week high is Rs 34 and its 52-week low is Rs 11.11. The company has a market cap of over Rs 400 crore and as of Andhra Pradesh Industrial Development Corporation Limited (Government of Andhra Pradesh) owns 1.28 per cent stake in the company.

The stock gave multibagger returns of 420 per cent in 3 year and a whopping 2,275 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

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