Virinchi surges on entering into agreement with one of leading Micro Lending companies in USA
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Virinchi is currently trading at Rs. 39.40, up by 1.32 points or 3.47% from its previous closing of Rs. 38.08 on the BSE.
The scrip opened at Rs. 38.55 and has touched a high and low of Rs. 39.98 and Rs. 38.55 respectively. So far 75874 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 55.45 on 06-Sep-2022 and a 52 week low of Rs. 28.70 on 25-Apr-2023.
Last one week high and low of the scrip stood at Rs. 40.75 and Rs. 35.85 respectively. The current market cap of the company is Rs. 335.47 crore.
The promoters holding in the company stood at 41.32%, while Institutions and Non-Institutions held 0.42% and 58.26% respectively.
Virinchi has entered into a Multi-Year Agreement with one of the leading Micro Lending companies in USA on July 28, 2023 for implementation, hosting, support and maintenance of the Base QFund Applications by the company for use by the customer. The agreement will add $2 Million to $2.5 Million per annum to the top line of the company going forward. The initial Term of the agreement is for 5 Years from July 28, 2023.
Virinchi is one of India’s early starters in the truly web-based IT Products space, offering a wide array of products both off-the-shelf as well as customizable, for both the B2B and the B2C markets.
