A stock which showed 100 percent i.e. doubling of money in just 6 days even in a falling market. During intraday, tremendous volume was seen in this stock and the trend of upper circuit continued.
The name of this Information Technology (ITeS) service company is Tera Software Ltd. On November 5, the price of this stock was at Rs 76.72 per share. Which increased by 102 percent to around Rs 163 in just 6 days. With this, the trading volume of the stock increased by three times on both NSE and BSE exchanges, with over 29 lakh shares transacted till noon.
cause of acceleration
This rise in Terra Software was seen after it became the lowest bidder (L1) for three packages in the BharatNet Phase-3 project with ITI. The project is worth approximately Rs 3,022 crore, in which the company has won the contract for development of broadband connectivity in Himachal Pradesh, West Bengal and Andaman and Nicobar under the BharatNet project.
Terra Software is already active in BharatNet project. The company had established its presence in Andhra Pradesh in Phase-1 and Odisha in Phase-2. Now under Phase-3, this company will work actively in new states also. The objective of the BharatNet project is to provide broadband connectivity at the speed of 100 Mbps to gram panchayats and villages in rural areas. This project is part of the Digital India initiative of the Government of India and is being funded under the Universal Service Obligation Fund.
Budget provision through government
In the financial year 2024-25, the Central Government has allocated a budget of Rs 8,500 crore for the BharatNet project to develop the necessary telecom infrastructure for broadband services in rural areas. This is expected to open up opportunities for new infrastructure construction and maintenance services for Terra Software, thereby creating potential for growth in the company’s revenue.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.