VL E-Governance & IT Solutions touches roof on inking pact to acquire 26% stake in HETL
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
VL E-Governance & IT Solutions is currently trading at its upper limit of Rs. 86.45, up by 4.11 points or 4.99% from its previous closing of Rs. 82.34 on the BSE.
The scrip opened at Rs. 83.99 and has touched a high and low of Rs. 86.45 and Rs. 79.21 respectively. So far 109148 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 86.70 on 16-Jul-2024 and a 52 week low of Rs. 29.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 86.70 and Rs. 76.03 respectively. The current market cap of the company is Rs. 915.95 crore.
The promoters holding in the company stood at 33.16%, while Institutions and Non-Institutions held 8.18% and 58.66% respectively.
VL E-Governance & IT Solutions has entered into a binding term sheet with Edgewood Ventures LLC, USA on July 18, 2024 for acquisition of 26% equity stake in HAL-Edgewood Technologies (HETL). This is a strategic investment for future business growth opportunities and leveraging the technology know-how. The transaction is expected to be completed within 12 months.
VL E-Governance & IT Solutions’ Business includes E-governance services, IT/ITES System Integration services, B2B Trading business and IT/ITES equipment trading activities. Company has been One of India’s largest e-Governance player functioning as a systems integrator and end-to-end service provider for various e-Governance projects.
