Latest news with #IntegratedFinancialManagementSystem
Mint
7 days ago
- Business
- Mint
Small-cap stock DEV IT shows resilience despite selling pressure in Indian stock market
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.
Mint
22-07-2025
- Business
- Mint
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.
Mint
22-07-2025
- Business
- Mint
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.
&w=3840&q=100)
Business Standard
22-07-2025
- Business
- Business Standard
Dev IT shares jump 7% after order win from NICSI; check details here
Shares of Dev Information Technology rose nearly 7 per cent on Tuesday after the company received a ₹1.29 crore order from NICSI for Integrated Financial Management System. The IT-enabled services firm's stock rose as much as 6.6 per cent during the day to ₹120.8 per share. The stock pared gains to trade 4.9 per cent higher at ₹118.9 apiece, compared to a 0.06 per cent decline in BSE Sensex as of 12:15 PM. Shares of the company have risen for the second straight session, but are a long way off from their all-time high level of ₹191 per share. The counter has risen nearly 29 per cent so far this year, compared to a 5.3 per cent gain in the benchmark Sensex index. Dev IT has a total market capitalisation of ₹268.04 crore. Dev IT bags ₹1.29 crore order The company landed a key order from the National Informatics Centre Services Incorporated (NICSI) to develop an Integrated Financial Management System (IFMS), according to an exchange filing. The project, valued at approximately ₹1.29 crore, aims to streamline and digitise the state's financial management operations, it said. The IFMS will be a comprehensive digital platform encompassing various core financial functions, including pension and employee management, works accounts, bank disbursement engine, core treasury operations, online bill payments, and budget and expenditure management. The project also includes mobile application development and other key components of IFMS. The project is expected to be executed within a period of two to three months, according to the statement. "Securing this project highlights DEVIT's proven capabilities in delivering complex, large-scale government technology solutions," the company said in the filing. "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." About Dev IT Founded in 1997 and listed on both NSE and BSE, Dev IT has grown from a small business automation software provider into a global IT services company. Headquartered in Ahmedabad with offices across India and in Canada, the company focuses on delivering digital transformation through continuous innovation, technological expertise, and a client-centric approach. Dev IT collaborates closely with clients to understand their goals and deliver tailored IT solutions that drive business success. The company offers a wide range of services, including Cloud Services, Digital Transformation, Enterprise Applications, Managed IT Services, and Application Development.
Business Upturn
22-07-2025
- Business
- Business Upturn
Dev IT secures Rs 1.29 crore NICSI order to build state financial management system
By Aditya Bhagchandani Published on July 22, 2025, 11:18 IST Dev Information Technology Ltd (DEVIT) has announced that it has secured a significant order from the National Informatics Centre Services Incorporated (NICSI) for the development of an Integrated Financial Management System (IFMS) for a state government. The order, valued at approximately ₹1.29 crore, is a fixed-cost, domestic contract and is expected to be executed within 2–3 months, the company stated in its regulatory filing to NSE and BSE on Tuesday. The IFMS project aims to streamline and enhance key financial processes of the state, including: Pension and Employee Management Works Accounts Management Bank Disbursement Engine Core Treasury Operations Online Bill Payments Budget Volume and Expenditure Management Mobile Application Development Other critical areas of financial administration The company highlighted that its experience in delivering large-scale, customized government technology solutions was instrumental in securing the order. This project does not involve any related-party transactions, and none of the promoters or group companies have any interest in the awarding entity. According to DEVIT, the project reflects its ongoing commitment to supporting government clients with robust, innovative, and collaborative digital solutions tailored to operational needs. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
