Multibagger stock secures Robotic Process Automation project from US-based consulting company, scrip up 142% from 52-week-low

Software technology termed robotic process automation (RPA) makes it simple to create, use, and manage software robots that mimic how people interact with computers and software. Software robots are capable of performing a broad range of user-defined tasks, including understanding what is on a screen, making the appropriate keystrokes, navigating systems, and identifying and extracting data. Software robots can reliably do the majority of boring and repetitive jobs without the need for interruptions.

A multi-year project to employ RPA in software test automation to test complex software systems being developed and the integrity of the data being converted from an older system to a new system has been awarded to Edvenswa Tech Inc, a fully owned subsidiary of Edvenswa Enterprises Ltd. The market for this solution might be expanded to include more projects for the same customer as well as other clients.

Speaking on the occasion, Mr. Uppuluri Sreenivasa Sreekanth, the Chairman and Managing Director of the Company said, “We are pleased to announce that we have secured a contract amidst intense competition, which has established a direct relationship with one of the Big Four consulting firms. Our team has developed an RPA solution tailored to this specific scenario that presents extensive growth opportunities across multiple projects at client locations, as well as similar projects with other clients. Our revenue from this emerging avenue has the potential to reach approximately US$ 2.0 million in the next six quarters”. Mr. Ramesh Reddy, the CEO of the Company, expressed further his appreciation for our shareholders’ remarkable response and support in the recent rights issue. Addressing the shareholders, he said, “The oversubscription is a clear indication of the trust and confidence that shareholders have in the company and its future prospects. The company remains dedicated to working tirelessly to deliver long-term value to its shareholders and stakeholders, and we assure you that we will continue to uphold this commitment.”

“We are committed to establishing a comprehensive RPA practice to capitalize on the potential of this market. Our approach involves developing reusable components and tailored agents for a range of applications within the domain, catering to the needs of our current clients and ensuring adaptability for new clients across various industries” Mr Anil Boenepalli the CTO of the Company added.

A provider of technological solutions, Edvenswa Enterprises Ltd is an expert in helping companies innovate through rapid prototyping and then expand rapidly by creating large-scale software applications. 

On Friday, the shares of Edvenswa Enterprises closed on the BSE at ₹45.26 apiece level, up by 1.50% from the previous close of ₹44.59. It has produced a multibagger return of 201% over the past three years and a multibagger return of 478% over the past five years. The stock’s multibagger return over the last year was 142%, while its year-to-date (YTD) decline in 2023 is 5.85%. The stock touched a 52-week-high of ₹75.82 on (17/08/2022) and a 52-week-low of ₹18.66 on (11/04/2022). At the current market price, the stock is trading 142.55% above its 1 year low and 40.30% below 1 year high.