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Aurionpro Soars to 14-Year High, Shares Up 83% in Past 3 Months

Picture Source: Internet

Shares of Aurionpro Solutions rose 4% in intraday trade on Friday to hit a 14-year high of Rs 468. Over the past two sessions, the stock has surged 14% in an otherwise weak market.

In addition, shares of computer software service providers were trading at their highest levels since January 2008. It hit an all-time high of Rs 547 on January 4, 2008. In contrast, the S&P BSE Sensex was down 0.3% at 56,235 at 9:24 am.

Shares of Aurionpro have surged 83% in the past three months, while Sensex has risen 6%. Last year, the index more than doubled or rose 131%, while the benchmark index fell 5%.

Aurionpro is an advanced technology solutions company serving banking, mobile, payments and government needs. Through continuous technological innovation, Aurionpro has diversified into emerging businesses such as smart cities, smart travel, and data centre consulting.

Shares of the company have surged 20% in the past two weeks after securing an order from one of India’s largest public sector banks. On September 21, Aurionpro announced that it had secured an order from a major public sector bank in India for its Murex services arm, which included upgrading its Murex version from the old to the new. Implementation will take 18 months, the company said in a statement.

At the same time, across the globe, banks and financial institutions continue to invest heavily in technology, and the rapid adoption of digital technologies has created opportunities to drive the IT industry’s growth over the next decade. Likewise, India is placing great emphasis on improving the country’s banking ecosystem, which further accelerates the digitalization process. This bodes well for Aurionpro as it is a leader in banking and fintech, especially in the Asian region.

The intelligent transportation sector is expected to witness tremendous growth in the coming years. Aurionpro has established itself as the only comprehensive player in the market with its robust IP-based solutions in the field of automatic toll collection (AFC) and its strategic acquisitions of SC Soft and ATASPL. With these right partnerships and key victories in some large regions, Aurionpro foresees significant gains in the field.

“Data centre is another emerging business with huge growth potential. Aurionpro has built a strong team of skilled and experienced resources that are expected to drive our future growth in this business,” Aurionpro said in its 22-year represented in the financial statements stated in the annual report.

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