Penny Stock Below Rs 30 : This Small-Cap IT Stock Jumps Upto 6% After Securing 5.15 Crore Government Project
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Dev Information Technology has secured a Rs 5.15 crore work order from NICSI for the development of IFMS 3.0 web and mobile applications for the Government of Rajasthan.
✨ Key Takeaways
On Thursday, Indian equity benchmark indices traded higher, with the Nifty 50 rising 165.00 points, or 0.69 per cent, to 24,243.30. Amid the market movement, Dev Information Technology shares were trading at Rs 24.50, down Rs 0.47 or 1.88 per cent. The stock opened at Rs 25.04 and touched an Intraday high of Rs 26.50, while the day's low stood at Rs 24.00. From the previous close of Rs 24.97, the stock's intraday high of Rs 26.50 represented a gain of approximately 6.13 per cent. The stock subsequently traded below its day's high during the session.
Dev IT Secures Rs 5.15 Crore Government Order
Dev Information Technology Limited has secured a significant work order from National Informatics Centre Services Incorporated (NICSI) for the Directorate of Treasuries and Accounts, Government of Rajasthan, Jaipur. The order involves the development and implementation of IFMS 3.0 Web and Mobile Applications.
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Download Service BrochureThe total value of the order is approximately Rs 5.15 crore. The project will cover key Finance Department functionalities, including Pension Management, Employee Management, Works & Accounts Management, Salary Management and Grant-in-Aid, along with other related components.
Order to be Executed Within Six Months
According to the company's filing, the order has been awarded by a domestic state entity and is structured as a fixed-cost contract. The project is expected to be executed over a period of approximately six months. The company has also confirmed that the order does not constitute a related-party transaction and that the promoters or promoter group have no interest in the entity awarding the contract.
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About Dev Information Technology
Dev Information Technology Ltd is an IT company offering services across cloud services, managed IT services, digital transformation, enterprise applications, business applications and mobile applications. The company has offices across Gujarat, Maharashtra, Rajasthan and Canada.
The company focuses on delivering technology-led solutions across cloud computing, enterprise applications and digital transformation. Its presence across multiple locations supports its operations in India as well as international markets, including Canada.
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Disclaimer: The article is for informational purposes only and not investment advice.