Firstobject Technologies strengthens on inking pact with Spiders Software

18 Jan 2013

Firstobject Technologies is currently trading at Rs. 12.95, up by 0.10 points or 0.78% from its previous closing of Rs. 12.85 on the BSE.

The scrip opened at Rs. 12.30 and has touched a high and low of Rs. 12.98 and Rs. 12.10 respectively. So far 1419 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 36.10 on 15-Feb-2012 and a 52 week low of Rs. 12.00 on 27-Dec-2012.

Last one week high and low of the scrip stood at Rs. 13.35 and Rs. 12.03 respectively. The current market cap of the company is Rs. 12.85 crore.

The promoters holding in the company stood at 61.03% while Non-Institutions held 38.97% stake in the company.

Firstobject Technologies has entered into a business pact  with Michigan, U.S.A, based Spiders Software Solutions LLC,  an Information Technology Consulting Organization providing service in Business Consulting, Application Development, ERP support (Implementation of ERP Applications and their Upgrades), BI maintenance and Updations on January 17 , 2013.

The agreement is for 3 years for availing Offshore Services and On-Site Consulting, for utilizing a minimum 25 resources in the areas of Business Consulting, Application Development and ERP Support (Implementation of ERP Applications and their Upgrades).

The agreement is with effect from January 17, 2013 and, it will be revenue accretive for Firstobject, from June 2013 onwards.

Related Firstobject Technologies Ltd. Links:

Firstobject Tech Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323