Zaggle Prepaid Services surges 4% after three order wins in two days

Zaggle Prepaid shares have gained over 24 percent in the past month.

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Shares of Zaggle Prepaid Ocean Services rose over 4 percent on December 6 after the company secured three orders in just two days. With the gains in today's session, the stock also hit an intraday hit of Rs 521, sitting just an inch away from its record high of Rs 523.30.

At 10.38 am, Zaggle Prepaid shares were trading at Rs 519.40 on the NSE, reflecting a gain of over 24 percent in the past month.

The first order won by the company is a five year contract for Zaggle's fleet program from AGP City Gas. Following that, the company won an one year order from Hitachi India. Under this order, Zaggle would provide Hitachi India with its Zaggle propel rewards solution.

Aside from these, the company also signed a two year master agreement with Blink Commerce to provide its Zoyer solution.

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Apart from these orders, the company is also expected to see an inflow of new orders after its seven-year contract that Zaggle Prepaid signed with MasterCard Technology recently.

In November, Zaggle inked a seven-year agreement with Mastercard for product distribution. As part of the deal, Mastercard will recommend Zaggle's SaaS platform, payment solutions, and card products to corporate clients and other ecosystem entities on a referral basis. In an exclusive interaction with NDTV Profit about the partnership, Avinash Godkhindi, Zaggle’s Managing Director and CEO, stated the agreement as a "great win" for the company.

"Mastercard conducted an extensive evaluation of several spend management companies before selecting Zaggle to offer this solution within their ecosystem. This partnership holds significant value for us in both the short and medium to long term," Godkhindi explained, highlighting that the integration with Mastercard is already complete.

He further added that contracts under the partnership are expected to materialise soon, potentially as early as the next quarter.

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