This stock is included in the S&P BSE SME IPO index and today rose 4.3% within the first half hour of markets opening. The stock currently trades at Rs. 51.99 versus Rs. 49.84 closing yesterday and 13% above its 20 day moving average. The stock was listed in March 2023 and has a market cap of Rs. 26 crore, returning 33% since its listing.
ITCONS Ltd (“Itcons”) said in an exchange filing dated 12th September 2023 that the company has received a purchase order from M/s. Netpoleon Solutions Pte Ltd., Singapore, worth USD 3,55,118 (equivalent to INR 2,94,50,159/- as per rate at the time) for providing consulting services on IPAM solution implementation. The contract is to be carried out in the next 6 months.
In mid July, the company had bagged an order from Wipro Ltd worth Rs. 2.46 crore to deploy new 105 resources on their clients’ projects like HDFC, Adani, Trent, Aditya Birla. These resources will be on ITCONS ’payroll. The deployment of resources is stated to be done as per the terms & conditions of the work order.
Itcons has had stable shareholding since its listing with a promoter stake of 59.4% and rest being held by the public. The stock has no short interest. Financially, the company reported revenue of Rs. 28 crore in FY23 and Net Profits of Rs. 5 crore, indicating a margin of 6.1% and an EPS of 5.23.
ITCONS operates a a professional staffing & recruitment company in India. The company’s offerings include workplace management services such as IT staffing, General Staffing, re-badging, recruitment process outsourcing, pas through services, hiring, technology solutions, consulting and much more.
It serves a broad array of verticals including private and public sector entities. The company is based in Noida, India and was incorporated in 2007.
Written by Sandeep R
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