AGS Transact Technologies share price locked at 10 percent upper circuit at Rs 86.20 in the early trade on November 17 after the company won an order worth Rs 1,100 crore.
The share price touched a 52-week high of Rs 86.84 on the BSE.
The company announced the order win of Rs 1,100 crore over 7 years for deploying 2,500+ ATMs under the Outsourced/Managed Services portfolio from the State Bank of India (SBI).
The company 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.
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As of September 30, 2023, the company has installed, managed, or maintained 77,658 ATMs/CRMs across 2200 cities and towns in India.
“We are excited to announce yet another significant order win. As one of the leading players of ATM Outsourcing in India, the 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,” said Stanley Johnson, Executive Director, AGS Transact Technologies.
Earlier in this month, the company won an order for 1,350 ATMs from the SBI, under its Banking Automation Solutions portfolio. SBI will strategically deploy these AGS-branded ATMs on a pan-India basis during FY24.
The company had reported a net loss of Rs 60.90 crore in the quarter ended September 2023.
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