Drone Penny Stock Under Rs 80 Jumps Over 10 Per Cent After Bagging Order Worth Rs 5,00,00,000

The stock gave multibagger returns of 3,300 per cent in 3 years and a whopping 13,700 per cent in 5 years.

On Monday, shares of Magellanic Cloud Ltd jumped over 10 per cent to Rs 73.50 per share from its previous closing of Rs 66.35 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. The shares of the company saw a spurt in volume by more than 1.50 times on the BSE.

Magellanic Cloud Limited informed that 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 4,200 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 3,300 per cent in 3 years and a whopping 13,700 per cent in 5 years.

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