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21-May2018

3i Infotech surges on incorporating step-down subsidiary

3i Infotech is currently trading at Rs. 4.51, up by 0.15 points or 3.44% from its previous closing of Rs. 4.36 on the BSE.

The scrip opened at Rs. 4.46 and has touched a high and low of Rs. 4.57 and Rs. 4.16 respectively. So far 742258 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 9.27 on 02-Jan-2018 and a 52 week low of Rs. 3.60 on 11-Aug-2017.

Last one week high and low of the scrip stood at Rs. 4.57 and Rs. 3.90 respectively. The current market cap of the company is Rs. 720.52 crore.

The Institutions and Non-Institutions held 38.96% and 61.04% stake respectively, in the company.

3i Infotech has incorporated a step-down subsidiary in Dubai Mainland for ease of carrying on business. This new subsidiary is a Limited Liability Company called '3i Infotech Software Solutions LLC' and is a direct subsidiary of 3i Infotech Holdings, the subsidiary of the company based in Mauritius. The commercial license was issued to the new subsidiary on May 17, 2018, when its name was added to the Commercial Register.

3i Infotech is a global Information Technology company providing software products, IT services and Business Process Outsourcing for a variety of industry verticals including Insurance, Banking, Capital Markets, Mutual Funds & Asset Management etc. These solutions and services include Managed IT Services, Application Software Development & Maintenance, Payment solutions, Business Intelligence etc.


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