AGS Transact is showing a huge jump in volume, over 2.2x and this is reflected in the stock price. It opened over 7% higher at Rs.83.99 and rose further to Rs.86.84, up 11%, hitting a new 52-week high.
The company announced today morning that it has won an order for Rs.1100 crore, spanning 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.
Further, Securevalue India, which is its cash management subsidiary, will be servicing a substantial number of ATMs under this order.
As at 30th September’23, company has installed, managed, or maintained 77,658 ATMs/CRMs across 2200 cities and towns in India.
AGS Transact Technologies is 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.