Small-cap IT stock under ₹20 jumps 7% following rally in Nifty IT index

Bartronics India share price surged by 12% on Tuesday's session following the company's signing of a Memorandum of Understanding (MoU) with Net Zero Initiative Private Limited (RenewCred). The IT space witnessed broad-based buying, with the Nifty IT index rallying over 2% today, which also added to the positive sentiment for the small-cap stock.

The MoU indicates the shared desire of both organisations to investigate possibilities for large-scale sustainable agriculture and carbon credit production by utilising Bartronics India's farmer network and Net Zero Initiative's technological platform.

The company announced that the partnership will concentrate on creating a transparent carbon credit standard and registry underpinned by blockchain and digital MRV technologies; implementing IoT, machine learning, drone surveys, and satellite monitoring for real-time evaluations at the farm level; advocating for regenerative agriculture, agroforestry, climate-smart inputs, and training programs for farmers; producing credible and high-quality carbon credits and directing the proceeds to farmers as supplemental income; participating in joint research and innovation aimed at sustainable agriculture and carbon reduction initiatives.

Bartronics India specialises in delivering solutions centered around Bar Coding, which is one of the longest-established AIDC technologies. Over the last twenty years, the company has led the way in bringing advanced technologies and solutions to India, including Biometrics, RFID, POS, EAS, and Smart Cards, among others.

Bartronics India share price today

Bartronics India share price today opened at ₹15.17 apiece on the BSE, the stock touched an intraday high of ₹16.89 apiece and an intraday low of ₹14.58 per share.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Bartronics India share price have seen strong traction in the October month up almost 30, and today it has surpassed it 200DSMA as well, the positive momentum is expected to continue in the near term. However buying on dip would be prefered , support is seen around 14 whereas previous high around 20.5 is resistance.

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