Synopsis:
Globesecure Technologies secured a purchase order worth ~Rs. 1.49 crore from Kotak Securities Limited for security products, with execution scheduled to be completed within one month, according to the latest NSE filings.
During Tuesday’s trading session, shares of a company involved in IT security products and related services moved up by nearly 5 percent on BSE, after the company announced securing a purchase order from Kotak Securities Limited.
At 11:21 a.m., the shares of Globesecure Technologies Limited were trading in the green at Rs. 8.65 on BSE, up by around 4 percent, as against its previous closing price of Rs. 8.3, with a market cap of Rs. 14 crores. The stock hit its 52-week high at Rs. 51.9 on 12th November 2024, and is trading at a discount of around 83 percent from its current price levels.
What’s the News
According to the latest filings with the NSE, Globesecure Technologies Limited has received a purchase order worth nearly Rs. 1.49 crores from Kotak Securities Limited for security products. Further, the order is scheduled to be executed within one month.
Previously, on 30th May, the company bagged a purchase order worth around Rs. 76 lakhs from Kotak Securities Ltd for a three-year NAC Refresh project, to be delivered within 3 months.
Financials & more
Globesecure Tech reported a significant decline in its revenue from operations, showing a year-on-year decrease of around 54 percent from Rs. 13.8 crores in H2 FY24 to Rs. 6.4 crores in H2 FY25. Likewise, its net profit decreased during the same period from a profit of Rs. 0.8 crores to a loss of Rs. 3.11 crores,
Globesecure Technologies Limited is a digital transformation company in India with a focus on cybersecurity. It has executed several cybersecurity transformation projects, infrastructure, and digital transformation projects for various institutions and also provides similar independent services to clients.
The company classify its business into the following lines of business: (i) Cyber Security, (ii) Integrated Enterprise Solutions, and (iii) Managed Services. It supplies authentic products and IT services to enterprise customers.
Written by Shivani Singh
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