Shares of this microcap clocked a 5 percent upper circuit in Thursday’s trading session after announcing partnership with the leading health system to utilise a cloud-based AI and machine learning solution.
With a market capitalization of Rs. 150 crores, the shares of SecureKloud Technologies Ltd started Thursday’s trading session on a higher note at Rs. 44.50 compared to its previous close of Rs. 42.75. Within a few minutes of the opening bell, the shares locked 5 percent upper circuit at Rs. 44.85 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that their step-down subsidiary, Healthcare Triangle Inc. had partnered with a leading health system to utilise cloud-based AI and machine learning solutions.
The deployment of an advanced AI solution of readabl.ai that automates the categorization and matching of crucial patient information from diverse unstructured data sources. Furthermore, the company mentioned that by leveraging Healthcare Triangle’s expertise in artificial intelligence and machine learning, the system adeptly identifies and extracts vital data from documents, faxes, and narrative reports.
Additionally, Healthcare Triangle also announced plans to integrate this AI model with Large Language Models (LLMs), enhancing its capabilities to understand and process natural language on an unprecedented scale. This integration is poised to offer even more sophisticated insights and processing abilities, making it a potent tool for healthcare organizations.
On this occasion, Anand Kumar, Interim CEO at Healthcare Triangle said, “By making these advanced technologies available to a broader spectrum of healthcare providers, we are setting the stage for a revolutionary shift in the healthcare industry, The integration of our AI model with Large Language Models is a game-changer, allowing us to process and understand patient data in ways it was never thought possible.”
During the recent financial quarters, the company’s basic business parameters showed mixed movements with the operating revenues, reduced by 6.3 percent from Rs 93 crores during Q2FY24 to Rs 87 crores in Q3FY24, and the latter, keeping the timeframe the same, reduced their losses from Rs 17 crores to Rs 13 crores.
SecureKloud Technologies Limited is a cloud-native company that has a combination of products, services, and frameworks to solve problems around Cloud, Enterprise Security, Blockchain, Decision Engineering, and many more.
The company provides cloud expertise, automation, and analytics and has partnerships with Microsoft Azure, Amazon Web Services, etc.
Written By Vaibhav Patil
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