AGS Transact Technologies Limited’s shares surged 7.83 per cent after the company secured an order worth ₹1,100 crore over a span of seven years from the State Bank of India (SBI). The agreement entails the deployment of more than 2,500 ATMs under the Outsourced/Managed Services portfolio.
Under the Total Outsourcing Model, AGS Transact will initiate the deployment of these ATMs in the upcoming year, operating on a transaction fee basis.
Stanley Johnson, Executive Director at AGS Transact Technologies Limited, said, “As one of the leading players in ATM Outsourcing in India, the addition of these 2,500+ ATMs for SBI will notably strengthen our Payment Solutions business segment. Additionally, our cash management subsidiary, Securevalue India, will be servicing a substantial number of ATMs under this order.”
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The shares jumped 7.83 per cent to ₹83.80 at 10 am on the BSE.