Multibagger penny stock under Rs 85 receives order worth Rs 31,00,00,000 from a customer

The stock gave multibagger returns of 3,265 per cent in 5 years and a whopping 13,640 per cent in 10 years.

On Friday, shares of Magellanic Cloud Ltd plunged 1.29 per cent to Rs   80.06 per share from its previous closing of Rs 81.11 per share. The stock’s 52-week high is Rs 143.20 per share and its 52-week low is Rs 42.60 per share.

Magellanic Cloud Limited informed that Provigil Surveillance Limited, our wholly owned subsidiary company, has received a purchase order from a customer worth Rs 31 crore (approx.) basic value for implementation of the 2nd Phase of E-surveillance systems comprising about 740 ATM sites for a period of five years.

Earlier, the company has received a purchase order from a customer worth Rs 40 crore basic value for e-surveillance for a period of five years. Earlier, its subsidiary company, i.e., Scandron Private Limited, has received an Order worth Rs 5,00,00,000 (Five Crore Rupees) basic value for the supply of drones.

Magellanic Cloud Limited, originally founded in 1981 as South India Projects Limited, is a global IT services company with a presence in Europe, the USA, and Asia. Specialising in software development, consulting, and human resource solutions, the company offers a range of services including human capital management, digital transformation consulting, DevOps implementation, quality assurance, and drone solutions. Their focus lies in modernising the digital experience for both employees and customers, while also providing recruitment and placement services.

The company has a market cap of over Rs 4,600 crore and has delivered good profit growth of 67.2 per cent CAGR over the last 5 years. The shares of the company have an ROE of 22 per cent and an ROCE of 23 per cent. The stock gave multibagger returns of 3,265 per cent in 5 years and a whopping 13,640 per cent in 10 years.

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