Small-cap SME stock Tac Infosec hits upper circuit. Rises 650% in six-month post-listing

Stock Market Today: Small-cap SME stock Tac Infosec share price hit upper circuit during intraday trades on Monday on the NSE.

Small-cap SME stock Tac Infosec share price that opens at ₹785.00, slightly higher than previous close of ₹781.75 on Monday. The Small-cap SME stock Tac Infosec share price thereafter hit highs of RS 820 marking gains of 5%, which happens to be the upper band limit for the Tac Infosec share price.

Tac Infosec share price has gained more than 650% compared to its IPO issue price at ₹106 . The Infosec share price was listed on the NSE SME on 5th April'2024.

The gains for the TAC Infosec share price on Monday were driven by its announcement having achieved 1000 Clients. The Tac Infosec said that it is on track for 3000 with 240 New Global Wins in August.

The press release by TAC Infosec said that “India’s first publicly listed cybersecurity company, has reached a significant milestone by securing 1000 clients worldwide, marking a notable step towards its ambitious growth targets. In the month of August alone, TAC Security added 240 new clients from 44 countries, underscoring its rapid expansion in the cybersecurity market”.

TAC Infosec targets to achieve 3,000 Customers by March 2025 and 10,000 by March 2026 to become largest Vulnerability Management Company'

Details

This milestone not only demonstrates the company's robust growth trajectory but also its unwavering commitment to enhancing cybersecurity for businesses worldwide, said TAC Infosec in its release.

Tac Infosec's new clients span across several countries, including Australia, Canada, China, France, Germany, India, Israel, Japan, Latvia, Mexico, the Netherlands, Saudi Arabia, Singapore, South Korea, Vietnam, the United Kingdom, and the United States.

TAC Security reported a 93.81% increase in revenue and a 94.45% surge in profit compared to the previous quarter, which company attributed to an increase in customer base and ongoing global market expansion

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