3i Infotech Shares Gain After Rs 39.55 Crore Contract Win
Shares of 3i Infotech Ltd. surged over 5% after bagging a contract worth Rs 39.5 crore from Ujjivan Small Finance Bank Ltd.
The company received a contract from Ujjivan Small Finance Bank for end-user support service, the company said in its exchange filings.
The total value of the contract is approximately Rs 39.55 crore plus one-time transition charges of Rs 35 lakhs, spread across five years, the statement said.
Shares of 3i Infotech surged as much as 5.67% to Rs 42.90 apiece, their highest since Sept. 6. It pared gains to trade 2.09% higher at Rs 41.45 per share. This compares to a 0.08% decline in the benchmark NSE Nifty 50 as of 12:37 a.m.
The stock has risen 1.84% on a year-to-date basis. The total traded volume so far in the day stood at 2.3 times its 30-day average. The relative strength index was at 66.7.
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