Small-cap stock DEV IT shows resilience despite selling pressure in Indian stock market
Dev IT share price were trading 1.14 per cent up to ₹ 117.39 apiece on July 24. The small-cap stock opened at ₹ 117.36 in early morning session on Thursday, as compared to previous close of ₹ 116.07 on Wednesday. At 10:40 am, the stock touched an intraday high to ₹ 118.30.
The small-cap IT stock has ascended over 3 per cent in past five trading sessions and nearly 11 per cent in a month despite volatility in the Indian stock market.
As per an exchange filing, the company has secured a significant order from the National Informatics Centre Services Incorporated (NICSI) for the development of an Integrated Financial Management System (IFMS), valued at ₹ 1.29 crore. The initiative aims to digitise and enhance the state's financial administration processes.
The IFMS will serve as a unified digital platform encompassing several key financial operations, including pension and employee management, works accounting, core treasury functions, bank disbursement mechanisms, online bill processing, and budgeting and expenditure control. The project also includes the creation of mobile applications and other supporting IFMS components.
According to the filing, the project is slated for completion within a span of two to three months.
' Securing this project highlights DEVIT's proven capabilities in delivering complex, large-scale government technology solutions. Our success is rooted in a deep understanding of the client's operational needs, a customised and innovative approach to solution design, and a strong, collaborative delivery model,' the company said in the filing.
The company is based in Ahmedabad, with offices across India and Canada. It specializes in driving digital transformation by consistently innovating, leveraging technological expertise, and maintaining a strong client-focused approach.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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