AGS Transact Technologies Ltd wins order of INR 1,100 Crore Over 7 Years from State Bank of India

AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), one of the largest integrated omni-channel payment solutions providers in India in terms of providing digital and cash-based solutions to banks and corporate clients, announced the order win of INR 1,100 crore over 7 years for deploying 2,500+ ATMs under Outsourced/Managed Services portfolio from the State Bank of India (SBI), India's largest PSU bank.

AGS Transact will deploy these ATMs on a Transaction fee basis under the Total Outsourcing Model. The company will begin the deployment of these new ATMs in the next calendar year.

Commenting on the order win, Mr. Stanley Johnson, Executive Director, AGS Transact Technologies Limited said, "We are excited to announce yet another significant order win. As one of the leading players of ATM Outsourcing in India, addition of these 2,500+ ATMs for SBI will notably strengthen our Payment Solutions business segment. Further, Securevalue India, which is our cash management subsidiary, will be servicing a substantial number of ATMs under this order."

As of September 30, 2023, AGS Transact Technologies Limited has installed, managed, or maintained 77,658 ATMs/CRMs across 2200 cities and towns in India.

Shares of AGS Transact Technologies Ltd was last trading in BSE at Rs. 78.46 as compared to the previous close of Rs. 75.53. The total number of shares traded during the day was 233934 in over 2146 trades.

The stock hit an intraday high of Rs. 80.65 and intraday low of 76.68. The net turnover during the day was Rs. 18403247.00.

Source : Equity Bulls

Keywords

AGSTransactTechnologies OrderWin SBI