3i Infotech hits 52-week high on bagging a new work order

On Tuesday, 3i Infotech shares surged 9.62% to trade at a fresh 52-week high of Rs 60.95 from its previous closing of Rs. 55.60 on the BSE.

About the work order

3i Infotech has been awarded a work order by M/s Concept Communications on behalf of Bharat Petroleum Corporation (BPCL) as a primary sponsorship of its Digital Ad inventory on the company’s captive portal and Piponet, to increase unique users for free Wi-Fi usage across 6105 plus stations by awareness campaign and branding. The Digital Ad inventory deployment on Captive Portal and Piponet along with branding activities will be executed by the company’s subsidiary namely Nure Bharat Network. The total contract value is around Rs 32.70 crore plus applicable taxes. The contract is for 27 months starting from February 1, 2024.

Company profile 

3i Infotech Limited (formerly known as ICICI Infotech Limited) was set up in 1993 by ICICI Group as a back-office processing company. The company has a presence across the globe with delivery centres in over 20 countries across Asia Pacific, Middle East, North America and Western Europe. The company has 4 development centres in India, namely in Vashi (Navi Mumbai), Hyderabad, Chennai and Bengaluru. 3i operates through two business segments viz. Services and Software Products and caters to diversified clientele across multiple geographies.

Stock price movement 

Today, the stock opened at Rs 56.03 and has touched a high and low of Rs 60.95 and Rs. 56.03 respectively. The BSE group ‘B’ stock of face value of Rs 10 has a 52-week high and low of Rs 60.95 and Rs 25.93, respectively. Last one week high and low of the scrip stood at Rs 60.95 and Rs 51.46 respectively. The current market cap of the company is Rs. 1018.34 crore.

The Institutions holding in the company stood at 10.90%, while Non-Institutions held 89.09% in the company.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.