This S&P BSE Smallcap stock has a market cap of Rs. 3,769 crore and rose over 8.8% within the first hour of markets open with volumes that are over 3x previous session’s and 3x monthly average volumes.
The stock gained after announcing integration of Generative AI into its comprehensive array of services and solutions. The stock trades 18% away from its 52 week high.
Datamatics Global Services Ltd (“Datamatics”) is a multibagger, returning 127% YTD, 105% and 770% in 1 year and 3 year periods respectively. Meaning if you invested Rs. 1 lakh into Datamatics at the start of 2023 it would ave now been worth around Rs. 2.3 lakh!
In a filing dated 17th October 2023, Datamatics announced the successful integration of Generative AI into its comprehensive array of services and solutions.
The integration involves incorporating Generative AI into its Intelligent Automation Platform, which encompasses TruBot Robotic Process Automation (RPA), TruCap+ Intelligent Document Processing (IDP), and TruBI Business Intelligence products.
Datamatics has created a range of market-ready solutions in diverse domains, including Enterprise Content Mining, Virtual Assistants, Financial Data Analytics, and Revenue Operations (RevOps).
Datamatics will showcase its cutting-edge GenAI-powered solutions at the upcoming Gartner® IT Symposium/Xpo™ 2023 in Orlando, USA, and Barcelona, Spain as well as Shared Services and Outsourcing Week 2023 (SSOW 2023), London.
Gartner IT Symposium/Xpo™ is the world’s most important gathering for CIOs and other IT executives. IT executives rely on these conferences to learn how to meet the moment and make a difference by providing the vision and results needed to lift their organizations to the next level.
Datamatics engages in the provision of information technology (IT), business process management, consulting, and engineering services in India, the United States, Europe, and internationally. In FY23, the company’s revenue rose 26% to Rs. 733 crore. Net profits declined 7% to Rs. 103 crore, indicating a 500 bps contraction is bottom line margin.
Written by Sandeep R
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