GSS Infotech surges with arm inking agreement to acquire 100% stake in Nexii Labs

15 Oct 2018

GSS Infotech is currently trading at Rs. 103.40, up by 8.25 points or 8.67% from its previous closing of Rs. 95.15 on the BSE.

The scrip opened at Rs. 97.00 and has touched a high and low of Rs. 106.90 and Rs. 97.00 respectively. So far 56216 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 122.75 on 21-Sep-2018 and a 52 week low of Rs. 21.65 on 16-Oct-2017.

Last one week high and low of the scrip stood at Rs. 106.90 and Rs. 88.25 respectively. The current market cap of the company is Rs. 175.55 crore.

The promoters holding in the company stood at 12.82%, while Institutions and Non-Institutions held 28.00% and 59.18% respectively.

GSS Infotech’s wholly owned subsidiary -- GSS Infotech Inc. has signed the share purchase agreement for acquiring 100% shares of Nexii Labs Inc., USA on October 12, 2018. Nexii Labs Inc., shall become a wholly owned step-down subsidiary of the company.

Nexii Labs adds a strong capability in the area of Automation for GSS’s existing Cloud and Infrastructure Management Practice. Adding this service portfolio, will make GSS more relevant to its customers. Nexii has some of the fortune 500 companies as its customers with revenues of about $1.8 million for FY 2018.

GSS Infotech is a pioneer in applying innovative, technology-based solutions to common business problems. It specializes in Remote Infrastructure Management Services, Virtualization solutions and Application Management Services.

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GSS Infotech Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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