Gradiente Infotainment Ltd bags GIS project from VISICOM

Gradiente Infotainment Limited (Gradiente)has bagged a GIS Project from VISICOM, an International Joint Stock company headquartered in Ukraine, for their US operations.

This effort is part of Gradiente'sIT Division expansion and diversification plan with a project outlays of INR 100 Million (Rs. 10 crores) in IT & ITES business.

The entire expansion of Gradiente is likely to be funded partly by private placement, preferential allotment, debt & ADRs. Currently, Gradiente is actively traded on Bombay Stock Exchange (BSE). The company completed its first round of funding by way of preferential allotment of 16,807,600 equity shares @ Rs. 10/- per share, thereby increasing its authorized capital to 40,000,000 shares & paid-up equity to 39,325,000 shares.

The first batch of work has been provided by VISCOM and the billing for the same is expected between April 30th and May 7th 2023.

This project has a potential to achieve a top-line of INR 100 Million (Rs. 10 crores) approx. and a bottom line of INR 20 Million (Rs. 2 crores) approx. for the FY 2023-24.

Shares of Gradiente Infotaintment Ltd was last trading in BSE at Rs. 6.33 as compared to the previous close of Rs. 6.06. The total number of shares traded during the day was 85793 in over 82 trades.

The stock hit an intraday high of Rs. 6.36 and intraday low of 5.90. The net turnover during the day was Rs. 540347.00.

Source : Equity Bulls

Keywords

GradienteInfotainment INE361K01017 GISProject VISICON