With a market capitalization of Rs 604 crore, The shares of 3i Infotech Ltd gained 9 percent, After the company received a contract to manage a services partner for its data centre domain.
According to the exchange filing, the Company received a contract from One of the leading Indian Private Sector bank to Manage Services for the Datacenter Domain. The whole contract value, divided across two years, is roughly Rs. 42.60 crores. At 12:10 am, stock was quoting at Rs 35.80, up 5.76 percent, and reached an intraday high of Rs 36.85 on Tuesday’s first half session. The stock has increased by 14.33 percent in the last month, from Rs. 31.40 to the present level.
3i Infotech Ltd was Incorporated in 1993, Company is engaged in software development services for Insurance, Banking, Capital Markets, Mutual Funds & Asset Management sectors.
As per financials, Operating revenue increased from Rs 182 crore in Q3 to Rs 190 crore in Q4. Similarly, net profit declined from Rs 13 crore to a loss of Rs 27 crore.
Revenue climbed 7.6 percent year on year, from Rs 677 crores in FY 21-22 to Rs 729 crores in FY 22-23. During the same time period, the Net Profit improved by 101 percent, from a loss of Rs 57 crores to a profit of Rs 1 crores.
As per the shareholding pattern, Domestic institutional investors (DIIs) hold a 10.82 percent stake and retail investors hold an 88.51 percent stake in the company for FY 22-23.
The company is categorised as a penny stock. Because high-return penny stocks have variable performance, are rarely traded, and even a small number of trades may trigger a circuit limit, we recommend that individual investors conduct adequate research before investing, and stocks provide a significant level of risk to individual investors.
Written by Omkar C
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