New Delhi: After a flop debut on bourses, newly-listed AGS Transact Technologies has been in high demand among investors lately. The stock has been hitting the upper circuit of 10 per cent since the last two sessions. The scrip has surged 28 per cent since February 24, when its shares hit its new lows of Rs 95.
On Thursday, shares of AGS Transact Technologies were locked in an upper circuit limit of 10 per cent to Rs 120.70. It had settled at Rs 109.75 on Wednesday.
BSE barometer and benchmark Sensex was trading merely 39.05 points or 0.07 per cent higher at 55,507.95 at the time of writing this report.
AGS Transact made a flat listing on January 31, 2022 at its issue price of Rs 175. It eroded about 46 per cent of investors’ wealth to hit new lows before gaining the momentum back.
AGS Transact Technologies is a leading market player in the ATM management space with strong pan-India network. It has an integrated business platform that offers a diversified product portfolio and strong in-house infrastructure and technological capabilities.
The company has reported a net loss of Rs 9.45 crore in the quarter ended December 2021 as against net profit of Rs 31.35 crore during the previous quarter ended December 2020.
The company reported a 5 per cent rise in sales to Rs 484.76 crore in the quarter, compared to a sale of Rs 463.04 crore in the same quarter previous fiscal.
Santosh Meena, Head of Research, Swastika Investmart, said the financial performance of AGS in the last three years is not encouraging. “The outlook is still not promising but valuations look comfortable after the recent correction,” he said. “Conservative investors should avoid this counter while aggressive investors can accumulate at current levels,” he added.
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