Micro Cap Stock Surges 15% After Winning Government Contract

Shares of Atishay Limited surged up over 15% to hit an intraday high of ₹42.

What Happened: The micro-cap stock experienced a huge bump as it announced winning a contract from the Himachal Pradesh government. The contract is for the computerisation of primary agriculture credit societies (PACS) data across all districts within Himachal Pradesh.

The contract is worth around ₹15 crore. Last month, the company announced bagging a ₹42 crore order from the Madhya Pradesh government. The order was also for the computerisation of 4122 PACS (Primary Agricultural Credit Society).

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With a market cap of around ₹50 crore, the micro-cap company is an IT software provider serving governments and banks across India. As per the company, in the past 25 years, it has served more than 14 government clients across 9 states in India generating business of more than ₹500 crores.

The company also counts domestic brokerage firm Hem Securities as a shareholder. The firm owns a 1.58% stake in the company.

Price Action: Atishay’s share price was up 8.47% to trade at ₹39.59 in the late hours of trading on Monday.

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