Small-cap IT stock under ₹200 jumps almost 7% despite range-bound stock market today; here's why
In an exchange filing, DEV IT said it had secured a significant order worth ₹ 1.29 crore from the National Informatics Centre Services Incorporated (NICSI). The project involves developing a comprehensive Integrated Financial Management System (IFMS) to support and streamline the state's financial operations.
According to the company, the IFMS platform will cover multiple core areas of finance management, including pension and employee management, works accounts, treasury operations, online bill payments, bank disbursement engine, budget and expenditure tracking, and mobile application development. DEV IT stated that this engagement reaffirms its capabilities in delivering complex, scalable, and mission-critical IT solutions for government clients.
The company attributed the contract win to its customised approach, deep understanding of public sector requirements, and a strong execution track record. DEV IT added that its experience in handling similar large-scale projects played a crucial role in winning the NICSI mandate.
The fresh order win triggered a positive response on Dalal Street, with the smallcap stock gaining nearly 7 percent intraday. Despite Tuesday's rise, the stock still remains over 36 percent below its 52-week high of ₹ 191, hit in January 2025. On the downside, it had touched a 52-week low of ₹ 88.15 in May 2025.
Over the last one year, DEV IT shares have declined nearly 19 percent. However, the stock has rebounded in recent months—up 5 percent so far in July after a 7.5 percent gain in June and a 2 percent rise in May. Prior to that, it had posted consecutive monthly declines: down 7.6 percent in April, 4.6 percent in March, 21.3 percent in February, and 10 percent in January.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Small-cap stock Dev IT continues to trade higher on Thursday after the company announced that it had received an order valued at ₹ 1.29 crore from NICSI for the Integrated Financial Management System. 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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Small-cap IT stock under ₹200 jumps almost 7% despite range-bound stock market today; here's why
Shares of Dev Information Technology (DEV IT), a small-cap IT services company, rallied sharply on Tuesday, July 22, rising as much as 6.7 percent to touch an intra-day high of ₹ 120.95. The surge came despite broader markets remaining range-bound, as investor sentiment turned bullish following the company's announcement of a new government contract. In an exchange filing, DEV IT said it had secured a significant order worth ₹ 1.29 crore from the National Informatics Centre Services Incorporated (NICSI). The project involves developing a comprehensive Integrated Financial Management System (IFMS) to support and streamline the state's financial operations. According to the company, the IFMS platform will cover multiple core areas of finance management, including pension and employee management, works accounts, treasury operations, online bill payments, bank disbursement engine, budget and expenditure tracking, and mobile application development. DEV IT stated that this engagement reaffirms its capabilities in delivering complex, scalable, and mission-critical IT solutions for government clients. The company attributed the contract win to its customised approach, deep understanding of public sector requirements, and a strong execution track record. DEV IT added that its experience in handling similar large-scale projects played a crucial role in winning the NICSI mandate. The fresh order win triggered a positive response on Dalal Street, with the smallcap stock gaining nearly 7 percent intraday. Despite Tuesday's rise, the stock still remains over 36 percent below its 52-week high of ₹ 191, hit in January 2025. On the downside, it had touched a 52-week low of ₹ 88.15 in May 2025. Over the last one year, DEV IT shares have declined nearly 19 percent. However, the stock has rebounded in recent months—up 5 percent so far in July after a 7.5 percent gain in June and a 2 percent rise in May. Prior to that, it had posted consecutive monthly declines: down 7.6 percent in April, 4.6 percent in March, 21.3 percent in February, and 10 percent in January.
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Small-cap IT stock under ₹200 jumps almost 7% despite range-bound stock market today; here's why
Shares of Dev Information Technology (DEV IT), a small-cap IT services company, rallied sharply on Tuesday, July 22, rising as much as 6.7 percent to touch an intra-day high of ₹ 120.95. The surge came despite broader markets remaining range-bound, as investor sentiment turned bullish following the company's announcement of a new government contract. In an exchange filing, DEV IT said it had secured a significant order worth ₹ 1.29 crore from the National Informatics Centre Services Incorporated (NICSI). The project involves developing a comprehensive Integrated Financial Management System (IFMS) to support and streamline the state's financial operations. According to the company, the IFMS platform will cover multiple core areas of finance management, including pension and employee management, works accounts, treasury operations, online bill payments, bank disbursement engine, budget and expenditure tracking, and mobile application development. DEV IT stated that this engagement reaffirms its capabilities in delivering complex, scalable, and mission-critical IT solutions for government clients. The company attributed the contract win to its customised approach, deep understanding of public sector requirements, and a strong execution track record. DEV IT added that its experience in handling similar large-scale projects played a crucial role in winning the NICSI mandate. The fresh order win triggered a positive response on Dalal Street, with the smallcap stock gaining nearly 7 percent intraday. Despite Tuesday's rise, the stock still remains over 36 percent below its 52-week high of ₹ 191, hit in January 2025. On the downside, it had touched a 52-week low of ₹ 88.15 in May 2025. Over the last one year, DEV IT shares have declined nearly 19 percent. However, the stock has rebounded in recent months—up 5 percent so far in July after a 7.5 percent gain in June and a 2 percent rise in May. Prior to that, it had posted consecutive monthly declines: down 7.6 percent in April, 4.6 percent in March, 21.3 percent in February, and 10 percent in January. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
