Shares of 3i Infotech rallied 5% during the early trading hours on 27 September after the company announced securing a contract from Ujjivan Small Finance Bank. 

The company announced that it had received a contract from Ujjivan Small Finance Bank for end-user support services for a total contract value of Rs 39.55 crore plus Rs 35 lakh one-time transition charges. 

The contract is for a 5-year period that starts from 1 October 2023 to 30 September 2028. The contract has the potential to extend the contract period upon mutual agreement. 

In September, the company announced a partnership with InsureMO, which is a world-leading Insurance Middleware Platform. 

Through this partnership with InsureMO, the company will expand its services offering with implementation capabilities for the InsureMo platform. This will modernise and transform the insurance providers’ offerings without changing their core solutions. 

The company is in the business of providing information technology services and software solutions and operates through 3 key segments. 

1. Digital Business Services. 
2. Enterprise Services. 
3. Professional Services.

In its quarterly report for the April-June quarter, the company reported a net loss of Rs 15.59 crore, whereas the operating revenue saw an 8.5% YoY increase at Rs 194.4 crore. 

At 10:55 am, the shares of 3i Infotech were trading at Rs 41.75 or 2.83% above its previous close on NSE.