Small Oriental Tech stock is the latest competitor on Dalal Street, rebounding from early losses in today’s trading on February 27, from the day’s low to 7.54% to 7.54% ₹337.90. It recovered sharply after the company announced its partnership with Amazon Web Services (AWS).
In today’s exchange document, the company announced a partnership with AWS India to provide advanced GPU and AI services. By leveraging AWS’ state-of-the-art GPU chips, AI solutions and a wide ecosystem, Oriental Technology aims to accelerate AI innovation and contribute to technological advancements in India.
Umesh Shah, Director of Orient Technologies Limited, said of the collaboration: “Orient Technologies is excited to be part of this transformative journey and looks forward to leveraging AWS’ powerful tools and services to shape the future of AI in India. We are also proud to be working with Meity to support mission-critical infrastructures for various national initiatives.”
“With AWS support, we are ready to play a key role in advancing India’s mission and driving large-scale AI deployment and global innovation. Together, we are committed to positioning India as a global AI leader and driving global innovation that will benefit our businesses and communities for the continuation of our businesses and communities,” added Umesh Shah.
In the end-December quarter (Q3FY25), the company reported net profit of ₹Compared with net profit, 130 million, marginal improvement ₹110 million were reported during the same period of the previous fiscal year. Report quarterly operating revenue from ₹Rs 207 crore income ₹1.56 million in Q3FY24.
Stocks corrected 52% from peak, but still 56% higher than IPO price
The company’s shares debuted on the stock exchange in late August and were listed at a 40% premium ₹Compared with the IPO price, it is 288 respectively ₹206. After their outstanding debut, the stock held a winning streak over the next five months, reaching an all-time high ₹674.85.
However, due to the sharp sell-off in the Indian market, they failed to maintain the same upward momentum in the subsequent period. At current transaction price ₹321, the stock fell 52% from its peak, but is still 56% higher than the IPO price.
Orient Technologies is a Maharashtra-based provider of information technology (IT) solutions and was founded in 1997. It provides a diverse portfolio of products and services and divides its business into three vertical areas: IT infrastructure, IT-enabled IT-enabled Services (ITES), ITES (ITES), and cloud and data management services.
Disclaimer: The opinions and suggestions given in this article are those of individual analysts. These do not represent the mint’s point of view. We recommend that investors contact certified experts before making any investment decisions.
