Hk Contract Props Eonour Software

Chennai-based Eonour Software recovered from its lower levels on renewed buying as the company announced that it has bagged a $2.5 million contract from a Hong Kong-based Legend Electronics for supplying the software to its advanced material management system.

On the BSE, the stock settled at up by 8 per cent to Rs 10.80 (face value of Rs 2), off from its intra-day low of Rs 8.30. Over 7.43 lakh shares changed hands on the counter. In the last six trading sessions between 7 June and 17 June 2002, the scrip rose by 20.5 per cent to Rs 10, from Rs 8.30. Dealers at a local brokerage house said: "The recovery on the counter was on renewed buying support from a large mutual fund on the counter."

Eonour Technologies had won a second consecutive project from United Parcel Service's (UPS) e-commerce division, Asia Pacific region, Singapore.

Eonour is in the process of providing solutions that relate to UPS' shipment process. In February 2002, the IT solutions company bagged a contract to provide solutions to the same division of UPS for its shipment process automation. It had also recently executed an supply-chain-management oriented project for the Guangdong group, which finds its roots with government bodies and agencies in China. This project covered, procurement, logistics and distribution automation.

Eonour Technologies posted a 11.4 per cent rise in its net profit to Rs 16.95 crore (Rs 15.21 crore) on a 38.2 per cent rise in its sales to Rs 65.46 crore (Rs 47.37 crore) for the year ended March 31, 2002.