Penny stock jumps up to 3.6% after it received an order from Maharashtra’s Chief Electoral Officer

The shares of this Information Technology stock gained 3.7 percent to Rs 46.97 a share on Friday after it received an order from Maharashtra’s Chief Electoral Officer. 

At 11:55 a.m., Atishay Ltd shares were trading at Rs 45.89 on the Bombay Stock Exchange, up 1.30 percent from the previous close price. The company has a market capitalization of Rs 49 crore. 

According to the exchange filing, The Office of the Chief Electoral Officer, Maharashtra, issued an order to Atishay Ltd for the preparation of the Marathi Photo Electoral Rolls for an order of Rs 57.60 lakhs. 

The operational income of Atishay has risen by 8.6 percent year on year, from Rs 19.75 crore in FY 22-23 to Rs 21.46 crore in FY 23-24. During the same time period, the net has increased from Rs 0.11 crore to Rs 0.65 crore. 

Atishay’s operating margin has increased from 3.23 percent in FY22 to 6.28 percent in FY23, while the net profit rose from 0.57 percent to 3.02 percent during the same period. 

The stock has increased by 54 percent over the last six months and 23 percent in the previous year. 

According to the latest shareholding pattern, the company promoters hold a 74.99 percent stake in the company and retail investors hold a 25.01 percent stake. 

Atishay Ltd is engaged in IT Consultancy and Services that provides customised software solutions for businesses. 

Since Atishay belongs to the Penny stocks category with a low market capitalization and a low trading volume. So Individual investors must conduct extensive research before investing in penny stocks, because such penny stocks are volatile in nature, are rarely traded, and a small number of trades may result in a circuit limit.

Written by Omkar Chitnis

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