Shares of AGS Transact Technologies Ltd surged 13% on Friday after the company announced that it bagged an order to supply 1,350 ATMs for State Bank of India (SBI) under its banking automation solutions portfolio.

Share Market Live

NSE

As part of the order, SBI will deploy ‘AGS’-branded ATMs across India during this fiscal, the omni-channel payment solutions provider said in a stocke xchange filing.

"This order will contribute towards strengthening our topline for the Banking Automation Solutions segment. It is noteworthy that this order encompasses the sale of banking automation solutions as well as long-term annual maintenance contracts,” Stanley Johnson, Executive Director, AGS Transact Technologies, said.

Notably, AGS Transact Technologies recently completed the integration of 8,000 ATM/CRMs, under its managed services portfolio, for Punjab National Bank and Union Bank of India.

As of September 30, 2023, the company has installed, managed, or maintained 77,658 ATMs/CRMs across 2,200 cities and towns in the country.

In the September quarter, the company narrowed its net loss to ₹34.73 crore from ₹11.92 crore in the year-ago period. Besides, its net dropped 7.21% year-on-year to ₹272.96 crore in the three months ended September 2023 from ₹294.18 crore in the same quarter preceding the fiscal.

AGS Transact Technologies is one of the largest omni-channel payment solutions companies in India. The company provided digital and cash-based solutions to banks and corporate entities. The company mainly deals with ATMs, CRM outsourcing, cash management and digital payment solutions.

At 10.26AM, shares of AGS Transact were trading 8.14% higher at ₹66.72 on the BSE.

Also Read: Lupin, Amman Pharma ink pact for exclusive marketing of drug used in treatment of eye problems

(Edited by : Shloka Badkar)