Penny IT stock hits 10% upper circuit after receiving order worth over ₹15 Cr from Webel Tech

During Thursday’s trading session, the shares of a company engaged in providing full-stack IT and ITes solutions hit a 10 percent upper circuit on BSE, after the company announced securing an order from Webel Technology Limited worth Rs. 15.8 crores.

Price Movement

With a market cap of Rs. 7,358.3 crores, the shares of Euphoria Infotech (India) Limited hit a 10 percent upper circuit at Rs. 38.87 on BSE, as compared to its previous closing price of Rs. 35.34. The stock has delivered negative returns of nearly 32 percent over one year, as well as around 31 percent returns in one month.

What’s the news

According to the latest regulatory filings with the BSE, Euphoria Infotech (India) Limited has secured an order worth a gross value of Rs. 15.8 crores from Webel Technology Limited. 

The company will be responsible for providing the service of implantation of affordable IoT-enable water service delivery measurement and monitoring sensing systems for rural development in the villages at different blocks of Purba and Paschim Medinipur District in West Bengal. 

Webel Technology Limited is a nodal agency for the Government of West Bengal for the implementation of IT and IT-enabled services.

Also read: Solar stock hits upper circuit after receiving order worth over ₹300 Cr for solar power project

Financials

Euphoria Infotech reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 89.2 percent, rising from Rs. 3.7 crores in H1 FY24 to Rs. 7 crores in H1 FY25.

Similarly, during the same period, the company’s net profit increased from Rs. 0.6 crore to Rs. 1 crore, indicating a rise of around 66.6 percent YoY.

About the company

Incorporated in 2001, Euphoria Infotech (India) Limited is mainly engaged in Information Technology Activity providing high-end IT and ITes solutions in the field of Citizen-Centric Applications, Enterprise Resource Planning (ERP), E-Commerce, Application programming interface (API), Internet of Things (IoT), cloud-based tools and application, data management etc. using standard software practices or through customised software development model.

Written by Shivani Singh

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