10-07-2024 12:08 PM | Source: Accord Fintech
AGS Transact Technologies jumps on renewing commercial with leading private sector bank in India

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AGS Transact Technologies is currently trading at Rs. 80.00, up by 0.57 points or 0.72% from its previous closing of Rs. 79.43 on the BSE.

The scrip opened at Rs. 80.95 and has touched a high and low of Rs. 82.53 and Rs. 78.64 respectively. So far 42613 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 126.70 on 29-Jan-2024 and a 52 week low of Rs. 54.56 on 24-Jul-2023.

Last one week high and low of the scrip stood at Rs. 83.36 and Rs. 78.59 respectively. The current market cap of the company is Rs. 961.72 crore.

The promoters holding in the company stood at 65.53%, while Institutions and Non-Institutions held 5.50% and 28.97% respectively.

AGS Transact Technologies has successfully renewed its commercial with a leading private sector bank in India, for managing their ATMs under its Outsourcing Portfolio. The revised commercials introduce a hybrid fee model, combining transaction-based and fixed fee components, and are projected to generate about Rs 30 crore in annual revenue for the company's Payment Solutions business segment. This development underscores the company’s ability to adapt in a rapidly evolving market. Furthermore, it reinforces the company’s leadership in the ATM/CRM outsourcing industry and aligns with its strategic goals of sustainable growth and value creation for its stakeholders.

As of March 31, 2024, the company is the second largest Managed Services Provider (MSP) in India, with 38,418 ATMs and CRMs under its outsourcing business portfolio.

AGS Transact Technologies operate its business in Payment Solutions; Banking Automation Solutions; and other Automation Solutions (for customers in the retail, petroleum and colour sectors) segments.