Virinchi is currently trading at Rs. 88.50, up by 2.85 points or 3.33% from its previous closing of Rs. 85.65 on the BSE.
The scrip opened at Rs. 86.80 and has touched a high and low of Rs. 88.65 and Rs. 85.00 respectively. So far 44666 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 94.80 on 16-Jan-2017 and a 52 week low of Rs. 29.45 on 26-Feb-2016.
Last one week high and low of the scrip stood at Rs. 88.65 and Rs. 75.00 respectively. The current market cap of the company is Rs. 158.28 crore.
The promoters holding in the company stood at 27.30%, while Institutions and Non-Institutions held 0.45% and 72.25% respectively.
Virinchi has signed up a multi-year contract for its flagship product ‘Qfund on Cloud’ with one of the leading lenders of alternative financing industry in USA. The company’s Cloud solution will replace the entire present IT Infrastructure of the lender.
Over the first three years of the contract starting January 2017, Virinchi is expected to generate annuity revenue of $3.5 million and services revenue of another $2.5 million, totaling a $6 million revenue addition over the same period.
Virinchi is one of the fastest growing IT products and solutions companies with operations in India and US. It offers IT products and solutions for US markets while offering end-to-end business solutions for Indian markets.