Birlasoft gains 13% after it signs $240 mn multi-year deal with Invacare

Shares of Birlasoft surged 13 per cent to Rs 66.35 apiece on the BSE in the intra-day deals on Monday after the CK Birla Group company said it signed US $240 million multi-year agreement with Invacare Corporation.

Birlasoft will deliver IT‐as‐a‐ Service to Invacare, the world's leading manufacturer of wheelchairs, bariatric equipment, disability scooters, respiratory products and other homecare products. Invacare Corporation is a leading manufacturer and distributor in its markets for medical equipment used in non‐acute care settings.

“Birlasoft will accelerate Invacare’s business transformation by modernising systems, taking responsibility for the provision of service desk, applications, server, network and telephony support. Birlasoft will build a new analytics platform and move the Invacare data center to the cloud,” the company said in a press release.

At 12:27 pm, Birlasoft was trading 10 per cent higher at Rs 65 on the BSE, as compared to a 0.50 per cent gain in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 971,172 shares changing hands on the NSE and BSE. The stock of IT consulting and software company hit a 52-week low of Rs 57 on August 23, 2019.