During Thursday’s trading session, the price of an IT company engaged in the business of prominent Indian IT services and training surged by close to 5 percent after securing orders worth Rs. 18.69 crores from Uttar Pradesh Cooperative Bank Limited.
The shares of Vinsys IT Services India Ltd, with a market capitalization of Rs. 601.80 crores on Thursday. Its shares are trading at a CMP of Rs 410, against the previous closing price of Rs 398.70. The stock was up close to 5 percent from the previous closing intraday. The stock has given Good returns of 13.75 percent in the past month.
What’s the News
Vinsys IT Services India Limited has received a work order from Uttar Pradesh Cooperative Bank Limited, a State Designated Agency, for a major digital transformation project. The contract involves the digitization and oversight of 1,000 Primary Agricultural Credit Societies (PACS) across Uttar Pradesh, along with ongoing technical support and system maintenance.
The contract is valued at approximately Rs 18.69 crore and spans a duration of 5 years. The first phase (data digitization and migration) is to be completed in 18 months, with 60 percent of the payment disbursed in phases over that period. The remaining 40 percent will be paid over the next 3.5 years for handholding and support services.
About the company
Vinsys IT Services India Limited is a prominent Indian IT services and training company headquartered in Pune, Maharashtra. Established in 2008, the company is part of the Vinsys Group, which comprises eight business entities with a global presence, including operations in the USA, UAE, and Middle Eastern countries.
Vinsys specializes in a wide array of services, including IT skill development, training and certification, digital learning solutions, project management, and technology training. The company offers customized courses across domains, such as BFSI, telecom, and government sectors.
The company’s revenue from operations has surged by 16.45 percent from Rs. 79 Crores in H1FY24 to Rs. 92 Crores in H1FY25, whereas the net profits of the company have grown by 37.5 percent from Rs. 8 crores in H1FY24 to Rs. 11 Crores in H1FY25.
Written By Likesh babu S
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