Compuage Infocom soars on deal with Lexmark

Compuage Infocom surged 8.11% to Rs 34 after the company said that it has entered into authorized service provider agreement with Lexmark International (India).

The agreement is for providing single-function and multi-function laser printers and related services all over the territory of India.

Founded in 1991, headquartered in Lexington, Kentucky and owned by large private equity companies namely APEC, PAG Asia and Legend Holdings, Lexmark is recognized as a global leader in print hardware, service, solutions and security by many of the technology industry's leading market analyst firms. Having a revenue of around $3.5 billion, Lexmark creates innovative IoT and cloud-enabled imaging technologies that help customers in more than 170 countries worldwide achieve their vision of print simplicity, security, savings and sustainability.

This tie-up would help Compuage in adding further value to its existing services portfolio and expand the business to a higher level thereby increasing profitability by its nationwide reach.

On the BSE, 14.77 lakh shares were traded in the counter so far compared with average daily volumes of 2.35 lakh shares in the past two weeks. The stock hit a high of Rs 36.75 and a low of Rs 31.05 so far during the day.

Compuage Infocom is a distributor of IT products. CIL's traded product portfolio comprises of 5 different verticals namely- PCs components & peripherals; mobility products; physical safety and security products; enterprise solutions and cloud computing. These products are sold to system integrators, corporate resellers, original equipment manufacturers (OEMs), system assemblers and large format retailers.

The company's consolidated net profit rose 10.87% to Rs 7.55 crore on a 3.08% increase in sales to Rs 1,121.24 crore in Q2 FY22 over Q2 FY21.

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