Software penny stock under Rs 75 receives purchase orders worth Rs 40,50,00,000 for E-surveillance System, Data & Analytics Projects
The stock gave multibagger returns of 4,260 per cent in 5 years and a whopping 7,850 per cent in 10 years.
On Thursday, shares of Magellanic Cloud Ltd plunged 1.70 per cent to Rs 72.30 per share from its previous closing of Rs 73.55 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 has announced that its wholly-owned subsidiary, Provigil Surveillance Limited, has secured a significant purchase order. This order, valued at Rs 7.5 crores annually, has a total potential worth of approximately Rs 22.5 crores over a three-year period. The contract specifically involves the implementation of E-surveillance systems across roughly 1,300 sites, showcasing the company's expanding presence in the security and surveillance sector.
In addition to this, Magellanic Cloud's subsidiary, Motivity Labs Inc. (USA), has received multiple purchase orders for various Statements of Work (SoWs). These orders collectively amount to a basic value of approximately Rs 18 crores. The scope of these SoWs is extensive, covering the design, development, and deployment of high-volume data pipelines, data lakes, BI dashboards, and AI-driven analytics specifically for mission-critical operations, indicating a strong move into advanced data and analytics projects.
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About the Company
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 4,200 crore and has delivered good profit growth of 77 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 4,260 per cent in 5 years and a whopping 7,850 per cent in 10 years.
Disclaimer: The article is for informational purposes only and not investment advice.