Ace Investor Ashish Kacholia’s stock specializing in providing automated s olutions for business expense management is in focus following entering into a Strategic Partnership Agreement with Google through Redington Limited.
Price action
With a market capitalization of Rs. 4,502.58 crores on Tuesday, the shares of Zaggle Prepaid Ocean Services Limited fell upto 3.8 percent making a low of Rs. 332.65 per share compared to its previous closing price of Rs. 345.90 per share.
What Happened
Zaggle Prepaid Ocean Services Limited engaged in providing automated solutions for business expense management has entered into a Strategic Partnership Agreement with Redington Limited, where Google, through Redington, will collaborate with Zaggle to co-create an employee benefits solution for Zaggle’s corporate clients and this agreement is valid for five years.
About the company
Zaggle Prepaid Ocean Services Limited is one of the leading IT stocks and prominent players in the field of digital financial services, focusing on offering prepaid card solutions and other payment-related services. It aims to simplify financial processes for its users while supporting a wide range of sectors, including corporate businesses, government institutions, and retail customers.
Ace Investor
Ace investor Ashish Kacholia holds 29,03,356 shares, representing a 2.16 percent stake in the company.
Prominent Partners and Clients
The Key customers of Zaggle Prepaid Ocean Services Ltd include Hiranandani, Tata Steel, and Greenply. The company collaborates with prominent partners such as DBS, Kotak, IndusInd Bank, Visa, and Mastercard.
Financials
The company’s total revenue rose by 66.8 percent from Rs. 203.98 crore to Rs. 340.42 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 15.22 crore to Rs. 19.75 crore during the same period.
Written by Sridhar J
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