Shares of AGS Transact Technologies shot off the charts by 19% and hit a new 52-week high of Rs 93.50 on 17 November after the company announced that it had secured an order from the State Bank of India for Rs 1,100 crore.

The company has received an Rs 1,100 crore order from the State Bank of India to Deploy 2,500 ATMs over a period of seven years. The company will provide these ATMs on a transaction fee basis, which is a part of the Total Outsourcing Model, and will start the deployment of the said ATMs in the next calendar year.

Stanley Johnson, Executive Director of AGS Transact, said, “Addition of these 2,500+ ATMs for SBI will notably strengthen our Payment Solutions business segment. Further, Securevalue India, which is our cash management subsidiary, will be servicing a substantial number of ATMs under this order.”

As of 30 September, the company has installed, managed, or maintained 77,658 ATMs/CRMs in 2,200 cities across India.

Earlier this month, the company announced receiving an order to supply 1,350 ATMs for the State Bank of India under its banking automation solutions portfolio.

In its quarterly report for the July-September quarter, the company reported a net loss of Rs 60.9 crore against the net profit it had recorded in the same quarter of the previous fiscal year.

The company’s board has also approved investing up to Rs 10 crore in its wholly-owned subsidiary through the rights issue mechanism.

At 3:30 pm, the shares of AGS Transact Technologies closed 18.44% higher at Rs 92.80 on NSE.