Multibagger IT stock gains 10% in two days on order win; check details

Shares of multibagger Ceinsys Tech Ltd have risen over 10% in the last two sessions after the firm won an order worth worth Rs. 2,79,70,425 from Brihanmumbai Municipal Corporation (BMC) for the renewal of 35 AutoCAD severe-based licences.

The three-year renewal, valid from April 26, 2024, to April 25, 2027, strengthens Ceinsys Tech’s position in the engineering software licensing space.

The stock has delivered multibagger returns to its shareholders. It rose 190% in six months and gained 327% in a year. In three years, the stock zoomed 351%.

Ceinsys Tech Ltd rose 10.23% to Rs 600.20 in the last two sessions. In the current session, Ceinsys Tech stock hit an upper circuit of 5% at Rs 600.20 on BSE. Market cap of Ceinsys Tech rose to Rs 956.18 crore on BSE. Total 0.77 lakh shares changed hands amounting to a turnover of Rs 4.56 crore on BSE.

In terms of technicals, the relative strength index (RSI) of the stock stands at 57.8, signaling it’s trading neither in the overbought zone nor in the oversold zone. Ceinsys Tech stock has a one-year beta of 0.2, indicating very low volatility during the period. Ceinsys Tech shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.

Ceinsys Tech is a technology-driven organization that specializes in offering solutions in the Geospatial, Enterprise & Engineering and mobility services space for a global clientele.