Shares of this multibagger IT stock under the ‘small-cap’ category hit its 2 percent upper circuit in Thursday’s trading session after the company’s subsidiary launched an AI-powered Customer Payments Platform. In the past month, the company’s share price rose nearly 40 percent for its holders.
With a market capitalization of Rs 1,208.47 crores, the stocks of TechNVision Ventures Limited started their trading session on Thursday hitting its 2 percent upper circuit at Rs 1,925.85 and closed the session at the same share price.
Such sharp share price movements were observed after the company, through its recent regulatory filing with the Bombay Stock Exchange (BSE), provided some key business updates.
The company announced “Emagia“, a subsidiary company of TechNVision Ventures Limited, has successfully launched “GiaPay”, an Al-powered B2B Payments Solution designed for the modern B2B payments needs of global enterprises.
Some of the features of GiaPay include unified payment connectivity, secure authentication & payment tokenization, smart & flexible payment orchestration, API connectivity to ERPs, and many more.
“We are excited to announce GiaPay, a one-stop B2B payments orchestration platform for global businesses to enable faster, frictionless and cost-effective customer payments flows. GiaPay is aimed to accelerate the order-to-cash cycle and improve cash flow for our customers.”, commented Ms. Veena Gundavelli, Founder and CEO, Emagia.
During the recent financial quarters, the company’s prime business indicators, viz, its operating revenues as well as after-tax profits, showed favorable movements with the former increasing from Rs 50.04 crores during Q2FY24 to Rs 59.80 crores during Q3FY24, and the latter, during the same period, taking a drastic shift from Rs 2.56 crores to Rs 8.94 crores.
In the past six months, the company’s stock has delivered multibagger returns of around 853 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock six months ago, it would have converted to Rs 9.53 lakhs.
Founded in 1980, TechNVision Ventures Limited is an India-based company engaged in the business of exporting various software services, including software-related development services and IT-enabled services. The company’s product portfolio comprises Enterprise Data Management, Enterprise Talent Management, and Enterprise Cash Flow Management.
Written by Amit Madnani
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