On Wednesday, a multibagger microcap stock jumped by 7 percent after signing a Memorandum of Understanding (MoU) with Cosmos Group. It has delivered a multibagger stock return of 130 percent in one year.
With a market capitalization of ₹493 crore, DU Digital Global Ltd. stock rose by 7 percent from its previous close of ₹70.75 per share to ₹76 per share.
According to the company’s exchange filing, the agreement between DU Digital Global Ltd. and Cosmos Group took place at the Cosmos Center in Bangladesh. It aimed to expand the company’s reach and offer creative solutions in the visa processing industry. Both companies have expressed interest in this strategic alliance in order to unlock new opportunities and deliver superior service to clients.
On a YoY basis, revenue from operations of the company increased by 297 percent from ₹9.4 crore in FY22 to ₹37.28 crore in FY23, and in the same period, net profits increased by 408 percent from ₹0.13 crore to ₹0.66 crore.
The company’s capabilities include location independent document processing, passport and consular services, public services, migration services, eVisa solutions, tourism, digital lockers, and trade support for the government.
The shareholder pattern of the company shows that 65.93 percent is held by the promoter, followed by 18.10 percent held by the public, and the remaining 15.97 percent is held by foreign institutional investors (FIIs).
DU Digital Global Ltd., an Indian based company incorporated in 2007, specialises in administrative and non-judgmental tasks related to visas, passports, identity management, and other citizen services for its client governments. It has a worldwide presence, with over 35 centres in various countries.
Written By Praveen R
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