The shares of this small cap stock engaged in the business of providing IT solutions came into focus after the company announced a collaboration with Amazon Web Services (AWS) India to offer advanced GPU and AI services.
Stock Performance
With a market capitalization of Rs 1,334.83 crore, Orient Technologies Ltd jumped over 4 percent in Thursday’s trading session and made a high of
Rs 343.35 per share compared to its previous closing price of Rs 328.80 per share. The stock retraced from its day’s high and was trading at Rs 320.55 which is 2 percent lower compared to the previous closing price.
What Happened
Orient Technologies Ltd announced in a filing that the company has collaborated with Amazon Web Services (AWS) India to deliver cutting-edge GPU and AI services. By utilizing AWS’s advanced GPU chips, AI solutions, and extensive ecosystem, Orient Technologies seeks to drive AI innovation and support India’s technological growth.
Management Commentary
Umesh Shah, Director of Orient Technologies Limited commented, “With AWS’s support, we are poised to play a pivotal role in advancing IndiaAI mission and driving large-scale AI deployment and global innovation. Together, we are dedicated to position India as a global AI leader and drive innovation that will benefit businesses and communities alike.”
Company Overview
Orient Technologies Ltd. is a leading IT solutions provider specializing in innovative cloud and data management services for enterprises. Focused on driving digital transformation, the company delivers scalable solutions to improve operational efficiency and business resilience.
Orient Technologies’ customers are from various industries like BFSI, Pharma, Healthcare and others. Their marquee clients include Jyothy Labs, ACG and tech partners like Dell International Services India Pvt. Ltd, and Fortinet among others. The company was recently listed in August 2024.
Financial Performance
In the latest quarter, Orient Technologies reported a 33 percent YoY increase in revenue from Rs 156 crore to Rs 207 crore. On a quarterly basis however, the revenue fell 7 percent from Rs 223 crore in Q2 FY25.
This was accompanied by a modest 18 percent YoY increase in net profits from Rs 11 crore to Rs 13 crore. On a quarterly basis, the profits fell 13 percent from Rs 15 crore in Q2 FY25.
Written by Shwetha Sairam
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