The shares of Micro-cap Software solutions provider jumped up to 8%, reaching an Intra-day high of Rs 256 per share on Wednesday’s trading session after the company announced its partnership with Web3 and AI incubator.
Share Price Movement
Systango Technologies Ltd with a market capitalization of Rs 365 Crores, was trading around Rs 253 per share, 6.8% higher than its previous close of Rs 236.70 as of 2:00 PM, Wednesday.
Reason for the Rise
In its update on January 29, 2025, Systango Technologies Ltd announced a partnership with a global Web3 and AI incubator, a leader in venture building specializing in blockchain and AI technologies.
The incubator focuses on helping startups and enterprises design, launch, and scale blockchain and AI solutions by providing strategic guidance, resources, and expert support. Systango will contribute as a technology consultant, offering product and engineering delivery services to the incubator’s cohort companies.
This partnership is a significant step in enhancing Systango’s presence in the blockchain, AI, and venture incubation sectors. It reinforces their position as innovators and experts in these fields, enabling them to deliver impactful solutions and drive growth through this collaboration.
Financials
The company’s Net profits rose by 19%, from Rs 8.14 Crores in H1FY24 to Rs 9.7 Crores in H1FY25, and its Revenue from Operations grew by 7%, from Rs 27 Crores to Rs 29 Crores during the same period. The company is yet to announce its Q3 results.
About Systango Technologies Ltd
Systango Technologies Ltd, established in 2007, is a publicly traded digital engineering services company, that excels in agile solutions and timely deployments, enriching digital ecosystems with value. From envisioning solutions to engineering robust software, Systango navigates the entire product lifecycle, ensuring excellence in every phase. It has a global presence by serving UK, USA, and Indian clients.
Written by Adhvaitha Nayani
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