Turnaround Show Cranks Up Innovision

Innovision E-commerce, a second-rung infotech company, seem to have caught the market's attention in the last few trading sessions. On the BSE, the stock settle up 3.76 per cent up at Rs 30.35, off from its intraday high of 33.50 today. More than 3.76 lakh shares were traded on the counter.

In the last 23 sessions, the scrip has gained around 93 per cent from Rs 15.75 on May 3 to its current level. Meanwhile, the volumes have increased from 50,000 shares to over 3 lakh. Dealer said, "Local brokerage houses have been accumulating the stock in the past few weeks on turnaround in company's performance."

 

Recently, the company had bagged a Rs 19 crore order from a state government to provide end-to-end web-based information processing and scheduling solutions. The order would be executed in conjunction with IBM. It claims to has developed web-based customer order tracking system for clients such as Bharat Petroleum Corporation Ltd and the Indian unit of Vero President Inc, US.

Innovation E-Commerce is an e-commerce solutions company. It was formed by taking over the business of erstwhile Manipal Control Data Electronic Commerce Ltd. Manipal Control was a joint venture between Control Data, US (now a part of Syntegra, a subsidiary of British Telecom), and Bangalore-based Manipal group.