Shares of AGS Transact Technologies Ltd are in news today after the financial technology firm said after the firm said it won an order of Rs 1,100 crore over 7 years for deploying 2,500+ ATMs under Outsourced/Managed Services portfolio from State Bank of India (SBI), India’s largest PSU bank. AGS Transact Technologies stock ended 3.88% higher at Rs 78.46 in the previous session on BSE. Total 2.34 lakh shares of AGS Transact Technologies changed hands amounting to a turnover of Rs 1.84 crore. Market cap of AGS Transact Technologies stood at Rs 952.53 crore . AGS Transact Technologies shares have a one-year beta of 0.6, indicating very low volatility during the period.
In terms of technicals, the relative strength index (RSI) of AGS Transact Technologies stands at 78.6, signaling it's trading in the overbought zone. AGS Transact Technologies stock stands higher than the 10, day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
AGS Transact Technologies will deploy these ATMs on a transaction fee basis under the Total Outsourcing Model. The company will begin the deployment of these new ATMs in the next calendar year.
Commenting on the order win, Stanley Johnson, Executive Director, AGS Transact Technologies Limited said, “We are excited to announce yet another significant order win. As one of the leading players of ATM Outsourcing in India, addition of these 2,500+ ATMs for SBI will notably strengthen our Payment Solutions business segment. Further, Securevalue India, which is our cash management subsidiary, will be servicing a substantial number of ATMs under this order.”
As of September 30, 2023, AGS Transact Technologies Limited had installed, managed, or maintained 77,658 ATMs/CRMs across 2200 cities and towns in India.
About the company
AGS Transact Technologies is one of the largest integrated omni-channel payment solutions providers in India in terms of providing digital and cash-based solutions to banks and corporate clients. AGS Transact provides customised products and services comprising ATM and CRM outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets.
Also read: Stock recommendations for November 17, 2023: Reliance Industries, Zensar Tech and Happiest Minds
Also read: IDBI Bank shares in focus as disinvestment by March 2024 unlikely