This Rs 8 Penny Stock is hitting upper circuit for several days. The shares of Vama Industries LTD are in focus these days. In the last 9 trading sessions, the share continuously hit upper circuit and has gained more than 68%.
Recently, the company secured a big order from the space department due to which the share price skyrocketed after that news.
Penny Stock Secured a Big Order
In the recent filing to the stock exchange, Vama Industries Ltd informed about a big order from the government of India Space Department. According to the filing, the company has received a 74.32 crore order from Newspace India Limited (NSIL).
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As per the order agreement, the company will supply a hierarchical storage management system (HSM) and Central Archival Facility (CAF) on turn-key basis. Moreover, Vama Industries will also provide installation and commissioning services along with training.
Vama Industries Share Price
The shares of Vama Industries reached a new 52-week high of Rs 8.02 on Friday, June 29. The share climbed 5% to reach that level while it closed at Rs 7.64 on Thursday, June 28. The 52-week low is Rs 4.
About the Company
Vama Industries Ltd is a Micro-Cap IT company that provides several IT solutions. The company is engaged in the business of providing system study, analysis design, software system development, and communication system solutions.Â
Several Industries including the government are using the IT solutions from this company. Vama Industries has a market cap of Rs 42.14 crore. Promoters holding of the company is 42.94% and public holding 57.06% respectively.
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