Micro Cap Stock Rockets 13% After Winning Order From SBI

Shares of AGS Transact Technologies surged up over 13% to hit an intraday high of ₹69.85 on Friday morning.

What Happened: As per an exchange filing AGS Transact Technologies will supply over 1,350 ATMs to the State Bank of India (SBI), India’s largest public sector bank. “SBI will strategically deploy these ‘AGS' branded ATMs on a pan-India basis by March 2024,” the filing added.

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The company also added that it recently accomplished the integration of 8,000 ATM/CRMs for Punjab National Bank and Union Bank of India. As of September 30, 2023, the company has installed, supervised, or serviced 77,658 ATMs/CRMs in more than 2,200 cities and towns across India.

The stock which closed lower on Thursday jumped back into the green on Friday morning after the announcement was made.

Price Action: AGS Transact shares were trading 9.35% higher at ₹67.25 shortly after market open on Friday.

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Posted In: EquitiesNewsContractsMarketsMoversTrading IdeasAGS Transact TechnologiesState Bank of India