India's AGS Transact Technologies slides on moving half of its ATMs back to banks

AGS Transact Technologies

12/03/2025 04:20

** AGS Transact Technologies AGST.NS falls exchange-allowed maximum of 5% to 13.21 rupees, a record low

** Digital and cash-based solutions provider says it has migrated half of its ATMs back to banks and merchant service providers to minimize disruption

** Stock set to fall for 28th consecutive session, of which it has fallen exchange-allowed maximum in last 25 straight sessions

** Earlier this month, AGST and its units defaulted in paying 385.9 mln rupees ($4.4 mln) in dues to creditors

** Co faced insolvency proceedings from Maxwel Aircon India, one of its creditors, over alleged unpaid dues

** AGST loses ~80% in 2025

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))