Edvenswa Enterprises shares hit upper circuit after project win

Shares of Edvenswa Enterprises were locked in the buyer's circuit on Monday as the company announced a project order win, which has been received by its wholly-owned subsidiary Edvenswa Tech Inc, in the United States. However, the company did not disclose the order size in the exchange filing.

Edvenswa has announced receipt of a new project in strategic Robotic Process Automation (RPA) space with a big four consulting company by its wholly-owned subsidiary Edvenswa Tech Inc in the United States, it said in an exchange filing.

Following the announcement, shares of Edvenswa Enterprises surged 5 per cent, hitting its upper circuit limit, to Rs 47.52 on Monday. The counter had settled at Rs 45.26 on Thursday, the previous trading session. The stock is down about 38 per cent from its 52-week lows at Rs 75.82 on August 17, 2022.

Shares of Edvenswa Enterprises have delivered a return of 155 per cent from its 52-week low at Rs 18.66 on April 11, 2022. The stock has zoomed about 550 per cent in the last five years, but it's down around 25 per cent in the last one month and six-month time period.

Edvenswa Enterprises, formerly known as KLK Electrical Ltd, is a technology solutions provider that specializes in corporate innovation through rapid prototyping and then helps them to rapidly expand by building software applications of scale.

Edvenswa Enterprises has started out a focused initiative to capitalize on the growing demand in organizations worldwide to transform the way the workforce productivity is enhanced by augmenting it with digital workforce bolstered with AI and also physical Robots to increase on-ground productivity.

Edvenswa Tech, a wholly owned subsidiary of Edvenswa Enterprises has bagged a multi-year project to use RPA in software test automation to test complex software systems being developed and the integrity of the data being migrated from an older system to a new system.

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