India's 3i Infotech jumps on securing $2 mln contract from IOC

3i Infotech

18/04/2023 05:38

** Shares of IT co 3i Infotech  TIIN.NS  rise 7.48% to 33.75
rupees after co secures managed services contract from Indian
Oil Corp  IOC.NS 
    ** Contract worth 162.9 mln rupees ($2 mln) and is for a
period of 3 years
    ** Stock marks sharpest intraday pct rise since April 5, on
track to snap six sessions of loss if gains hold
    ** Stock cuts gains slightly, trading around the 50-day
moving average level of 33.41 rupees
    ** More than 294,000 shares change hands in early trade, vs
30-day avg of ~660,000 shares
    ** Stock down 22.94% YTD, as of last close

($1 = 82.0360 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))