This penny stock jumped 4% within the hour of markets opening on Tuesday after it bagged an order from Jaipur Development Authority. The stock currently trades at Rs. 11.44 versus Rs 11.00 at previous close. T
he company has a market cap of Rs. 48 crore and is currently trading 16% away from its 52 week high. The stock is a 3 year multibagger, returning 103% in the last 3 years. Meaning, if you invested Rs. 1 lakh into this stock over 3 years ago it would be worth Rs. 2.03 lakh.
In a filing dated 9th October 2023, Aksh Optifibre Ltd (“Aksh”) stated that the Company has received a work order for operating and maintaining of existing smart solutions installed at various locations in Jaipur under smart city project and installation of equipment’s/devices at JDA including all software, hardware, P2P connectivity and required internet bandwidth for maintaining the whole system live and functional, amounting to INR 19.46 Crores inclusive of GST.
JDA has developed smart city solutions viz. CCTV, Wi-Fi, Smart Light, Smart Parking, Environmental Sensor, i-Kiosk and Data center. The Company needs to maintain the complete &M for two (2) years and provide FMS to Maintain the setup. The project is to be completed in 2 months, by October 13th, 2025.
Aksh Optifibre designs, manufactures, and sells optical fiber cables in India.
Disclaimer: Since penny stocks are generally illiquid, even a small increase in volume of buy orders can lead to the stock hitting its upper circuit. Even though the stock prices come under an average buying range for retail investors and provide huge upsides, penny stocks are prone to huge risks to retail investors. As such, you should consult your financial advisor before taking an entry into such stocks.
Written by Sandeep R
