3i Infotech gains on receiving Letter of Acceptance from IOCL!

The shares of the company gained more than 5% in the morning trade today.   

Letter of Acceptance from Indian Oil Corporation

3i Infotech has received a Letter of Acceptance from Indian Oil Corporation (IOCL), the nation’s largest refiner and fossil fuel retailer, about Managed Services for the Data Center (DC) IT Infrastructure as part of its contract renewal in the new financial year. The total contract value is Rs 16.29 crore for 3 years.

3i Infotech’s Digital Infrastructure Managed Services comprising IT Infrastructure and Cloud, help clients in optimizing their IT spending. With over 200 clients, more than 3000 infrastructure professionals, and an integrated HybridNXT Support framework for On-Prem & Hybrid Eco-System, the company is a one-stop-shop for any enterprise’s Digital Transformation needs.

Share price movement of 3i Infotech Limited  

Today, the stock opened at Rs 31.99, with a high and low of Rs 33.90 and Rs 31.99. Currently, the stock is trading at Rs 33.10, up by 5.98%.

The stock has a 52-week high of Rs 66.50 and a 52-week low of Rs 25.90. The company has a market capitalisation of Rs 557.62 crore.

Company profile 

3i Infotech is a global Information Technology company which provides technology solutions to over 1500 customers in more than 50 countries across 5 continents, spanning a range of verticals. The company provides offshore and onsite support to industry verticals including Banking, Insurance, Capital Markets, and Asset & Wealth Management (BFSI). It also provides solutions for other verticals such as Government, Manufacturing, Distribution, Telecom, Healthcare, and Retail.

Growth Strategy 

The business has implemented the 'RUN, GROW, and BUILD' approach to focus on the plan, execution, and delivery while aligning activities with desired end goals. These three connected initiatives will be important business enablers.