This IT Infrastructure stock is in focus after it jumped 4.60 percent following the reporting of receiving an order from Oil & Natural Gas Corporation (ONGC) worth Rs. 21.27 Crore.
Share Price Movement
With a market capitalization of Rs. 235 Crore, the stock of Esconet Technologies Limited opened at Rs. 174, roughly the same level as yesterday’s close of 176.85, but after opening it made a high of 185 up 4.60 percent.
Order Update
The company has received a Purchase Order from ONGC for the Supply and installation of a high-end Graphics Workstation, the total consideration of the order is Rs.21.27 Crore and the supply of the order is to be completed by 15th June 2025.
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Financial Highlights
The company reported a 47.88 percent YoY increase in revenue from Rs. 71 Crore in H1FY24 to Rs. 105 Crore in H1FY25. Their Net profit saw a decrease of 33.33 percent from Rs. 3 Crore to Rs. 2 Crore for the same period.
IT Infrastructure Future in India
This sector is showing a very strong growth trajectory, with major advancements like Artificial Intelligence, Data center expansion, and Government initiatives like Digital India, Smart cities, and Make in India. The Demands for components and Infrastructure will keep increasing.
About the Company
Esconet Technologies Limited is an Indian IT infrastructure solutions provider, specializing in high-performance computing, system integration, and cloud services. Established in 2012, the company transitioned to a public limited entity in September 2023.
Written By Abhishek Das
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