Micro Cap Stocks Hits Upper Circuit After Bagging Order From BSNL

Shares of GVP Infotech jumped 2% to hit the upper circuit on Monday morning.

What Happened: The company on Monday announced bagging an order from government-owned Bharat Sanchar Nigam Limited (BSNL). The order is for the outsourcing of maintenance and operations of customer service centres (CSCS) in Aurangabad.

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The company in an exchange filing informed that the contract is awarded for the period till Sept. 2024 but can be extended further for one year on the same terms and conditions. The contracts involve monthly billing based on transactions.

With a market cap of around ₹200 crore, the micro-cap company is an information technology and cable infrastructure company that provides end-to-end IT / ITEs and telecom solutions combined with technical support and operations outsourcing.

Price Action: GVP Infotech’s share price was up 1.53% to trade at ₹13.25 on Monday afternoon.

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