This IT-company bags new order worth approx. Rs 6 crore from Bharat Sanchar Nigam Limited (BSNL); details inside!

Globesecure Technologies Ltd (NSE Scrip Code: GSTL) has secured a work order from Bharat Sanchar Nigam Limited (BSNL) to install last-mile FTTH connections in service-ready villages under the BharatNet Phase II project in Maharashtra. This project is part of a larger agreement signed on November 23, 2023, where Globesecure was empanelled as a MahaIT BU Partner for Maharashtra. The specific work order received on June 7, 2024, is for 592 villages and is expected to be completed within 1-3 years. The total order value is approximately Rs 6 crore out of a total of Rs 80 crore for 7,900 villages.

Globesecure Technologies Limited specializes in IT security products and services, focusing on cybersecurity. The company has executed various cybersecurity transformation projects and provided independent services to institutions.

In terms of financials, GSTL has a market cap of Rs 39 crore. The company reported positive numbers in its half-yearly and annual results for FY24. In H2FY24, the company reported net sales of Rs 13.83 crore and net profit of Rs 0.80 crore. In FY24, the company reported net sales of Rs 23.89 crore and net profit of Rs 1.01 crore.

On Friday, shares of Globesecure Technologies rose by 9.46% to Rs 42.80 per share. The stock’s 52-week high is Rs 134.50, and its 52-week low is Rs 37.10.

Disclaimer: This article is for informational purposes only and not investment advice.