Shares of Dev Info Know-how (DEV IT), a small-cap IT providers firm, rallied sharply on Tuesday, July 22, rising as a lot as 6.7 p.c to the touch an intra-day excessive of ₹120.95. The surge got here regardless of broader markets remaining range-bound, as investor sentiment turned bullish following the corporate’s announcement of a brand new authorities contract.
In an alternate submitting, DEV IT stated it had secured a major order value ₹1.29 crore from the Nationwide Informatics Centre Providers Integrated (NICSI). The undertaking entails creating a complete Built-in Monetary Administration System (IFMS) to assist and streamline the state’s monetary operations.
Key Scope of Work
In keeping with the corporate, the IFMS platform will cowl a number of core areas of finance administration, together with pension and worker administration, works accounts, treasury operations, on-line invoice funds, financial institution disbursement engine, finances and expenditure monitoring, and cell utility growth. DEV IT said that this engagement reaffirms its capabilities in delivering complicated, scalable, and mission-critical IT options for presidency shoppers.
The corporate attributed the contract win to its customised strategy, deep understanding of public sector necessities, and a powerful execution monitor file. DEV IT added that its expertise in dealing with related large-scale tasks performed a vital function in profitable the NICSI mandate.
Inventory Efficiency
The recent order win triggered a optimistic response on Dalal Avenue, with the smallcap inventory gaining practically 7 p.c intraday. Regardless of Tuesday’s rise, the inventory nonetheless stays over 36 p.c under its 52-week excessive of ₹191, hit in January 2025. On the draw back, it had touched a 52-week low of ₹88.15 in Might 2025.
During the last one yr, DEV IT shares have declined practically 19 p.c. Nevertheless, the inventory has rebounded in latest months—up 5 p.c thus far in July after a 7.5 p.c achieve in June and a 2 p.c rise in Might. Previous to that, it had posted consecutive month-to-month declines: down 7.6 p.c in April, 4.6 p.c in March, 21.3 p.c in February, and 10 p.c in January.
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