This Midcap IT stock that provides new-age technologies and next-gen IT services and solutions was up by 3.5 percent in opening trade after the company signed an MoU with the Government of Karnataka to upskill graduates in BFSI.
Price Action
With a market capitalization of Rs. 263 Crores, the shares of Equippp Social Impact Technologies Limited were up by 3.5 percent in the opening day’s trade touching a day’s high of Rs. 27.18 per share. The stock reiterated from the day’s high and was trading at Rs. 25.55 per share which is 2.74 percent lower from the previous closing price of Rs. 26.27 apiece.
What Happened
Equippp Social Impact Technologies Limited has signed a tripartite Memorandum of Understanding (MoU) with Karnataka Innovation and Technology Society (KITS), the Department of Electronics, Information Technology, Biotechnology, Government of Karnataka, and the BFSI Consortium.
MoU focuses on Skill Development
The MoU was signed in an event conducted by the Government of Karnataka i.e.; Bengaluru Tech Summit 2024 aimed at upskilling students across engineering and graduate colleges for Karnataka’s Banking, Financial Services, and Insurance (BFSI) sector. This partnership would include BFSI-focused minor degree programs aimed to provide service to around 10,000 students in the first phase of the program. These courses would include technological expertise, domain knowledge, and behavioral skills mirroring the BFSI industry.
BFSI consortium, a nonprofit entity will design and deliver a curriculum that integrates technology, domain expertise, and behavioral skills. Equipp Social through Portal will act as a platform to monitor student progress, measure program outcomes, and facilitate placements in the BFSI sector.
About the Company
Equippp Social Impact Technologies Ltd is an Indian technology services provider focused on creating social impact through innovative solutions. They specialize in enabling cross-sector collaborations and public-private partnerships (PPP) and offer a range of services such as impact assessment marketplaces, digital platforms for CSR, and IT consulting.
They leverage emerging technologies like analytics, AI, and blockchain to improve operational efficiency for governments, NGOs, and corporate social responsibility initiatives. Their mission is to foster sustainable social change by connecting diverse stakeholders and providing tailored technology solutions that address complex societal challenges.
Financials & Ratios
Its Revenue from operations was nil in Q2FY24 and rose to Rs. 0.47 Crores in Q2FY25, accompanied by losses of Rs. 0.36 Crores to a loss of Rs. 0.52 Crores.
The current ratio of the company in FY24 stood at 1.69 times and reported a debt-to-equity ratio of 0.25.
Shareholding Pattern
As of September 2024, the shareholding pattern with the promoter’s stake holding a major share of 89.10 percent in Equippp Social Impact Technologies, and the remaining 10.90 percent were holdings from the public.
Written by Santhosh S
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