Back-to-back upper circuit in this multibagger IT stock; bags new order worth Rs 74.32 crore!

Shares of Vama Industries Limited surged by 60 per cent in the last six months, with the stock hitting a new 52-week high on Friday. The company recently secured a significant supply order worth Rs. 74.32 crore from NewSpace India Limited (NSIL) for Hierarchical Storage Management (HSM) systems and servers. This contract is expected to strengthen Vama Industries’ position in the IT sector.

However, the company’s Quarterly Results for Q4FY24 were disappointing, with a 75.24 per cent decrease in revenue and operating losses. Vama Industries is involved in system study, software development, hardware sales, and services. The stock has shown remarkable growth, gaining over 100 per cent from its 52-week low.

Investors are advised to monitor the stock closely, considering its recent performance. Please note that this article is for informational purposes only and not investment advice. If interested in penny stock recommendations below Rs. 100, DSIJ’s ‘Penny Pick’ service provides research-backed options.