Shares of a leading IT provider specializing in innovative cloud and data management solutions for the enterprises sector in India surged nearly 9 percent on BSE to Rs. 431 on Tuesday, despite a foreign institutional investor (FII) sold shares worth a total of around Rs. 12.7 crores in the company via a bulk deal.
With a market capitalisation of Rs. 1,749 crores, at 01:42 p.m., the shares of Orient Technologies Limited were trading in the green at Rs. 420, up by nearly 6.2 percent, as compared to its previous closing price of Rs. 395.65.
What’s the News:
As per the latest block deal available with the NSE, foreign investor Pine Oak Global Fund offloaded nearly 3.18 lakh equity shares in Orient Technologies through an open market transaction for about Rs. 12.7 crores, at an average price of Rs. 399.69 per share.
According to the September 2024 shareholding pattern, Pine Oak Global Fund held around 6.77 lakh equity shares, or a 1.63 percent stake, in the company.
Financials:
Orient Technologies reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 50 percent, rising from Rs. 149 crores in Q2 FY24 to Rs. 223 crores in Q2 FY25.
Likewise, during the same period, the company’s net profit increased from Rs. 9 crores to Rs. 15 crores, representing a significant growth of around 67 percent YoY.
The operating EBITDA for Q2 FY25 reached Rs. 20.7 crores, representing an increase of around 39.4 percent YoY from Rs. 14 crores in Q2 FY24.
During Q2 FY25, Orient Technologies got listed on BSE and BSE, with a remarkable investor response, and has delivered nearly 38 percent of positive returns since it was listed.
About the Company:
Founded in 1997, Orient Technologies Limited operates in three key business verticals: IT Infrastructure Products & Solutions, IT Enabled Services, and Cloud and Data Management Services. It serves a variety of sectors, including BFSI, Pharma & Healthcare, Government, ITeS, and more.
In the IT Infrastructure Products & Solutions division, Orient Technologies offers Data Centre Solutions and End-User Computing. Its IT Enabled
Services division includes Managed Services, Multi-Vendor Support, IT Facility Management, Network Operations Centre Services, Renewals, and Device as a Service.
The Cloud & Data Management Services division covers a wide range of offerings such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), Function as a Service (Serverless Computing), Database as a Service (DBaaS), and Storage as a Service, among others.
Written by Shivani Singh
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