Info-Drive Software gains on bagging contract to supply and install Web Based Solution

08 May 2013

Info-Drive Software is currently trading at Rs 6.06, up by 0.28 points or 4.84% from its previous closing of Rs 5.78 on the BSE.

The scrip opened at Rs 6.00 and has touched a high and low of Rs 6.06 and Rs 5.91 respectively. So far 15892 shares were traded on the counter.

The BSE group 'T' stock of face value Rs 10 has touched a 52 week high of Rs 20.30 on 08-May-2012 and a 52 week low of Rs 3.40 on 12-Mar-2013.

Last one week high and low of the scrip stood at Rs 6.47 and Rs 5.51 respectively. The current market cap of the company is Rs 27.32 crore.

The promoters holding in the company stood at 8.52% while Institutions and Non-Institutions held 30.94% and 60.54% respectively.

Info-Drive Software's pioneering Credit Society end to end automation software has been awarded a letter of intent (L0I) for a major contract under the aegis of Additional Registrar of Co-operative Societies, Government of Tamilnadu for the fully integrated enterprise-wide Web Based Solutions for management and automation of credit society operations of 110 societies in the Chennai region. The company sees this as a major potential area for the solution as there are tens of thousands of such societies in India and Overseas. This solution will be one of the prime focus areas for the company in future.

The company has been awarded this contract after a very rigorous E- Tender process by the Government of Tamilnadu and sees the contract award as confirmation of Info- Drive's unassailable position within the domain of credit society automation software. This is also seen as path breaking as this may be the first time a web based solution has been preferred as against traditional software development project awards.

Info-Drive Software, is a multi-dimensional Technology and Business Services Company offering -Specialized expertise in Applications Deployment and Banking Solutions, Remote Infrastructure Management, Biometric Solutions at enterprise level and Back-office transaction processing in Healthcare and Benefit Administration domains.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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