Virinchi jumps after order win

Virinchi soared 5.42% to Rs 50.60 after the company said it won a Rs 20 crore order from the Government of Telangana.

Virinchi said it is approved as 'L2' as per the technical and financial evaluations of the bids for the filling up of vacancies of Aadhar enrollment programmers in the Education Department, Government of Telangana. The company is awarded project for engaging of 350 Aadhar enrollment kit operators to the Education Department, Government of Telangana. The total value of the project is around Rs 20 crore and will be realized over 2 years. The announcement was made after market hours yesterday, 12 September 2019.

Shares of Virinchi jumped 28.75% in six trading sessions to its current market price of Rs 50.60, from a recent closing low of Rs 39.30 on 4 September 2019.

On BSE, 22,000 shares were traded in Virinchi counter, compared to a 2-week average of 19,000 shares. The stock hit an intraday high of Rs 51.45 and an intraday low of Rs 48.70.

It hit a 52-week high of Rs 96 on 13 November 2018 and a 52-week low of Rs 37 on 23 August 2019.

Virinchi's consolidated net profit rose 8.3% to Rs 11.03 crore on a 3.4% decline in net sales to Rs 93.13 crore in Q1 June 2019 compared with Q1 June 2018.

Virinchi is a fintech and healthcare company. Its fintech products include QFund, PayEz and vCard. QFund is used for end to end loan lifecycle management. Virinchi Hospitals owns and runs state of art multispecialty hospitals in India.

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