India's 3i Infotech jumps on securing $5.2 mln contract

3i Infotech

20/06/2023 05:41

** Shares of 3i Infotech Ltd  TIIN.NS  rise as much as 8.9%
to 36.85 rupees, their biggest intraday pct gain since April 5
    ** IT firm says it secured a managed services contract from
an Indian private sector bank for about 426 million rupees ($5.2
million) spread across two years
    ** TIIN's Moving Average Convergence Divergence (MACD) line
has been over the signal line for 13 straight sessions,
suggesting bullish momentum
    ** About 1.4 mln shares change hands by 10:04 a.m. IST, 3x
the 30-day avg - Refinitiv Data
    ** Stock last up 6.8%, trimming YTD losses to 11.3% 


($1 = 82.1195 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))