AGC Networks surges on entering into an agreement with Avaya

AGC Networks is currently trading at Rs. 95.00, up by 2.00 points or 2.15% from its previous closing of Rs. 93.00 on the BSE.

The scrip opened at Rs. 95.00 and has touched a high and low of Rs. 98.00 and Rs. 93.50 respectively. So far 711 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 157.90 on 28-May-2015 and a 52 week low of Rs. 58.00 on 01-Sep-2014.

Last one week high and low of the scrip stood at Rs. 119.40 and Rs. 86.70 respectively. The current market cap of the company is Rs. 275.27 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 8.25% and 16.75% respectively.

AGC Networks and Avaya, a leading global provider of solutions that enable customer and team engagement, have entered into an agreement to deliver cloud-based services to businesses across India. Under the terms of the agreement, AGC Networks will deliver communication and collaboration capabilities for new and existing customers in India, with the support and expertise of the Avaya Private Cloud Services organisation.

AGC is an Avaya Connect Platinum Partner in India, and this agreement will further enable the two companies to serve the needs of Indian businesses. Combining AGC Networks’ reach, resources, integration know-how and local expertise with Avaya’s industry leading team engagement, customer engagement and fabric networking solutions - in a deployment model specifically adapted to the Indian market - promises businesses throughout the country a compelling reason to deploy enhanced communication capabilities to support their business goals and their customers’ needs. The agreement spans both the small and midmarket segment services through the Avaya IP Office platform, and larger businesses which utilise the Avaya Aura platform.

Avaya supports major organisations around the world with a full suite of private cloud, hybrid cloud and hosted solutions and works directly or through its partners. With the support of big friends including Google and HP, and through a number of service provider and CSP agreements, Avaya has deployments across the Asia Pacific and Middle East & Africa region with the likes of Bharti Airtel (spanning over 20 countries across Africa), StarHub in Singapore, NTT Neomeit in Japan, Telstra and Optus in Australia and True IDC in Thailand.

AGC Networks is India’s leading intelligent communications solution provider delivering business solutions that help organizations accelerate revenue growth, increase market penetration, optimize operating costs and improve employee productivity, by embedding communication in their business processes.