SME stock Dev IT jumps 4% despite weak Indian stock market

Stock market today: Despite weak trends in the Indian stock market, Dev Information Technology or Dev IT shares witnessed strong buying on Thursday. Dev IT share price today opened downside at ₹138 apiece on NSE and touched an intraday low of ₹136.59 per share within a few minutes of the stock market's opening bell. However, the SME IT stock witnessed bottom fishing at lower levels and a sharp rebound within a few hours. On Thursday, it touched an intraday high of ₹144.40 per share, logging more than a 4 percent intraday rise. The stock has been rising for the last two straight sessions after the small-cap company informed Indian stock market exchanges about the receipt of fresh orders.

Dev IT news

The small-cap company informed about the new order in an exchange filing on Tuesday, saying, "We are pleased to inform you that Dev Information Technology Ltd (DEVIT)

secured a noteworthy order from our prestigious client, M/s. RajCOMP Info Services Ltd, for "Operation, Maintenance and Enhancement of RAJKISAN SATHI Portal for One Year". RajCOMP Info Services Ltd, for “Operation, Maintenance and Enhancement of RAJKISAN SATHI Portal for a period of One to two years.”

Dev Information Technology Ltd added that the order is for the enhancement, Operation, & Maintenance of a Single Window (Integrated) portal for citizen-centric services and DBT of individual beneficiary Schemes of Agriculture, Horticulture, RSAMB, RSSC and Marketing Board. The application comprehends automating and streamlining of various processes in agriculture such as 9+ ATAL, 8+ MKSY, 32+ NFSM, 19+ NHM, 8+ PMKSY, 24+ RKVY, 5+ RPCM, 8+ RWSLIP subsidies for agro-processing, agri-business, agri-export promotion policies, capital and freight, License Generation of seeds/fertilizers/pesticides for manufactures, Budget, Lottery system, Kisan Seva Kendra, and disbursement of Soil Health Card to Farmers. The system also encompasses the development of 13+ Mobile apps such as Raj Kisan Suvidha, Raj Kisan Satyapan, Raj Kisan Mandi, Geo Tagging App, Locust, RajAgriQC etc., for citizen-centric facilities.

Recently, Dev IT secured work orders for providing SQL Server Enterprise and Windows Server to further enable the Gujarat Chief Minister Office's Dashboard Application and various other key software solution applications specific to quite a few other Departments of the Gujarat Government hosted in the Gujarat State Data Centre.

A few days ago, the Dev IT board approved acquiring a 100% stake in Dhyey Consulting Services Private Limited. For this purpose, the board of directors considered and approved the execution of a share purchase agreement amongst Dev Information Technology Limited, Promoters of M/s, Dhyey Consulting Services Pvt Ltd., and Dhyey Consulting Services Pvt Ltd.

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