AGS Transact shares up after it secures order from SBI

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AGS Transact Technologies Ltd’s shares were up by 9.32 per cent after the company secured an order for 1,350 ATMs from the State Bank of India (SBI). The ATMs are to be deployed nationwide during FY24.

Stanley Johnson, Executive Director, said, “This order contributes to the growth of our Banking Automation Solutions segment, encompassing the sale of automation solutions and long-term annual maintenance contracts. The demand for ATMs/ CRMs in the payment industry remains robust, and this order reinforces our position in the market.”

The company has completed the integration of 8,000 ATMs/ CRMs for Punjab National Bank and Union Bank of India under its managed services portfolio. As of September 30, 2023, the company has an extensive footprint, with 77,658 ATMs/ CRMs installed, managed, or maintained across 2,200 cities and towns in the country.

The shares were up by 9.32 per cent at Rs 67.45 at 10.11 am on the BSE.