Bodhtree Consulting hits record high after receiving contract

Bodhtree Consulting jumped 5.76% to Rs 101 at 10:45 IST on BSE after the company announced about receipt of contract from Magadh University, Bihar to provide the Digital University Platform in a managed services model.

The company made the announcement during market hours today, 12 January 2018.

Meanwhile, the S&P BSE Sensex was up 76.55 points, or 0.22% to 34,580.04. The S&P BSE Small-Cap index was up 141.36 points, or 0.71% to 20,125.29, outperforming the Sensex.

More than usual volumes were witnessed on the counter. On the BSE, 66,289 shares were traded in the counter so far, compared with average daily volumes of 32,129 shares in the past one quarter. The stock had hit a high of Rs 102.80 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 95.15 so far during the day. The stock had hit a 52-week low of Rs 34 on 13 February 2017.

The stock has surged 23.02% in three sessions to its ruling price, from a close of Rs 82.10 on 9 January 2018.

The stock had outperformed the market over the past one month till 11 January 2018, gaining 42.11% compared with the Sensex's 3.13% rise. The stock had also outperformed the market over the past one quarter, gaining 39.72% as against the Sensex's 8.39% rise. The scrip had also outperformed the market over the past one year, jumping 168.26% as against the Sensex's 27.13% rise.

The small-cap company has equity capital of Rs 19.96 crore. Face value per share is Rs 10.

The project value is expected to cross Rs 43 crore inclusive of taxes for a period of 3 years. The university will pay company on a per student basis. The platform is going to digitize key areas of the university catering to the high student base and streamline admissions, examinations, certificate generation and various workflows of the university. It will also provide a digital help desk for the students. The project will also require implementing a biometric based attendance system for the staff of the university and its constituent colleges.

Magadh University is the oldest university of Bihar with 215 plus colleges and a new student base of 5 lakh plus students every year and offering more than 100 plus courses in undergraduate, post graduate, BEd, etc.

Bodhtree Consulting's net profit rose 38.24% to Rs 0.47 crore on 57.02% fall in net sales to Rs 11.41 crore in Q2 September 2017 over Q1 June 2017.

Bodhtree enables enterprises to transform their business using the power of cloud, analytics and digital solutions. In addition, the company streamlines key business processes by deploying enterprise applications, integrating applications with their IT infrastructure and maintaining them, so that business users can focus on strategic organizational priorities.

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