Multibagger stock alert: This microcap IT software company signs MoU to supply drones, do you hold?
The stock has delivered 19.54 per cent in one month and multibagger returns of 315.96 per cent in 3 years.
Today, RamInfo Ltd's shares surged by 3.67 per cent to Rs 113 per share, reflecting positive market sentiment. The company has embraced technological innovation and women empowerment through its collaboration in the "Namo Drone Didi" initiative. The recently formalized MoU with Marut Dronetech Private Limited underlines RamInfo's commitment to Drone as a Service (DAAS), aiming to boost agricultural efficiency and reduce operational costs for farmers. This strategic partnership involves the supply of drones, with an initial order of Rs. 1 Cr already received and more orders in the pipeline. This move aligns with the government's vision and underscores RamInfo Ltd's dedication to expanding its presence in the thriving DAAS sector.
In Q2FY2024, the company witnessed a marginal year-on-year decline in sales by 1 per cent, amounting to Rs 18.9 crore compared to Rs 19.1 crore in September 2022. However, the EBIDT demonstrated a notable positive trend, surging by 16 per cent to reach Rs 4.05 crore, showcasing improved operational performance. The net profit also saw a commendable rise of 10 per cent, reaching Rs 2.16 crore compared to Rs 1.96 crore in the same period last year, reflecting sound financial growth.
RamInfo Ltd has established itself as a leading digital transformation facilitator over the past 25 years, garnering the trust of governments and businesses. Having originated as an e-Governance innovator during the IT revolution, RAMINFO has diversified its portfolio across various sectors, facilitating USD 10 billion in transactions and impacting 25 per cent of India's population. Recognized for pioneering initiatives like eSeva and MeeSeva, RAMINFO continues to set industry standards, most notably with the groundbreaking DGP service. Their dedication to client-centric innovation, technological advancement, and social impact underscores RAMINFO's enduring reputation.
The stock has delivered 19.54 per cent in one month and multibagger returns of 315.96 per cent in 3 years. Investors should keep an eye on this Microcap IT Stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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