Share prices of this IT stock gained 8% in Wednesday’s trading session. The prices surged after the company received an LoA from the Ministry of Electricity and Information Technology, Government of India.
The shares of Trigyn Limited opened at Rs. 122.9 per piece to reach its intra- day high of Rs. 131.5 at an upside of 8%. The stock has returned 18.25% in the last six months. In three years, it has given a total return of 121.39%. The company has a market capitalization of Rs. 374.51 crore.
On 29 August 2023, the company received a letter of award (LoA) from Digital India Corporation which comes under the Ministry of Electricity and Information Technology, Government of India. The company has been awarded a domestic level contract for the next three years up to 23 August 2026 for providing Technical Manpower for Lok OS Project. This contract is subject to further extension based on performance. The project value stands at Rs. 35 crore for the next three years and Rs. 65 crore for the next five years (if extended).
As per its financial results, the company’s total revenue reduced 0.48 % to Rs. 322.5 crore in Q1FY24 from Rs. 324.04 crore in Q4FY23. Its net revenue is an increase of 366.8% from Rs. 2.59 crore in Q4FY23 to Rs. 12.09 crore in the recent June quarter.
Trigyn Technologies Limited is a global IT firm with its roots in Asia, Europe, North America and Africa. Established in 1986, Trigyn has a strong client base of fortune 500 companies.
The company offers various services such as Smart Solutions, Smart Utilities, Surveillance and Security, and many more.
Written by Bhumika Khandelwal
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