The shares of Atishay Ltd gained 7 percent and reached an intraday high of Rs 35.80 on Monday’s first half session. The company has a market capitalization of Rs 39 crores. The company’s stock price surged after obtaining an order from a government financial institution.
According to exchange filings, The National Bank for Agriculture and Rural Development (NABARD) awarded a project for Rs 47 crores that entails digitizing important financial papers and data for all PACS in the state of Madhya Pradesh. This project will eventually impact the revenue and profitability of Atishay Ltd.
The stock has increased by 21 percent over the last three months, from Rs 29.35 to the present level, and by 12.20 percent over the past month, from Rs 31.64 to the current level.
Atishay Ltd was Incorporated in 1989, the company provides IT Consultancy and Services. The company has undertaken many government projects such as Aadhaar software for Project Management and Aadhaar-enabled Biometric Attendance System.
As per standalone financials, Operating revenue climbed from Rs 6.4 crore in Q3 to Rs 7.29 crore in Q4. Similarly, net profit improved from Rs 0.28 crore to Rs 0.52 crore.
As financials are assessed year to year, the revenue increased by 10 percent from Rs 21.2 crores in FY 21–22 to Rs 23.42 crores in FY 22–23. The Net Profit increased by 490 percent during the same period, from Rs 0.11 crores to Rs 0.65 crores.
As per the shareholding pattern, promoters of the company hold a 74.99 percent stake and retail investors hold a 25.02 percent stake in the company for FY 22-23.
The company falls under the umbrella of penny stocks. Since high-return penny stocks exhibit inconsistent performance, are rarely traded, and only a small number of trades might trigger a circuit limit, we suggest individual investors do extensive research before making an investment and stocks exhibit a high level of risk to individual investors.
Written by Omkar C
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