This information technology stock has zoomed 134% in 6 weeks – Business Standard

Shares of Aurionpro Solutions hit a 31-month high of Rs 192.45 after rallying 17 per cent on the BSE in intra-day trade on Thursday on the back of heavy volumes. The trading volumes on the counter jumped nearly three-fold with a combined 470,000 equity shares changing hands on the NSE and BSE, till 02:10 pm.

The information technology (IT) software products company's stock was trading at its highest level since September 2018. In the past six weeks, the stock has zoomed 134 per cent from the level of Rs 82.15 on March 4, against 4.5 per cent decline in the S&P BSE Sensex.

Aurionpro is a leading player in banking and fintech segment offering IP based solutions, which include transaction banking platform, iCashPro+ and lending platform smart lender and ACE platform.

On March 9, Aurionpro Solutions announced the signing of the strategic partnership with Future-Tech, UK for data center design and consultancy projects in India & South Asia.

The management said that Aurionpro has ventured into this business at a right time as Indian Data Centre market is likely to reach $4 Billion. Further, Covid-19 pandemic has accelerated the pace of digitisation and as the world is gearing up for the 5G technology, the requirement for the world class Data Centers will increase multi fold. Aurionpro, with its capacity, experience and best resources is poised to tap the immense opportunities in this space, it said.

In a press release, Aurionpro said that it has ventured into the Data Centre building, consulting and hybrid cloud services in recent years and has built a strong team of industry veterans, with over 20+ years of experience in the field, for this purpose.

Aurionpro has also signed up with one of the customers and is providing consultancy and assistance for rolling out of 100 MW Data Centers within next few years. Further, Aurionpro is also providing consultancy to the other industry leaders on Data Centre designs and implementation, it said.

Future-Tech, head quartered in Wokingham, England will bring further specialisation, engineering excellence and direct industry knowledge to the companys established and expanding team within India and South Asia. Future-tech has been engaged on providing more than 3GW of data centre capacity. The Future Tech is involved in the projects ranging from high density and micro-edge environments to multi-MW campuses, the largest so far being more than 270MW, the company said.

The management in 2019-20 annual report said, the IT sector had faced headwinds during the year 2020, however, sharp recovery may be witnessed during the year 2021. The increased digitization and technology adaptation will also boost demand for the enterprise security solutions like ISLA in coming years. Further, in order to boost the economies, impacted due to the pandemic, the governments are expected to boost spending on infrastructure in future. This will boost business opportunities in the smart city and smart mobility space, it said.

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This information technology stock has zoomed 134% in 6 weeks - Business Standard