Shares of smallcap IT company Kellton Tech Solutions Ltd are trading in green even as the Sensex fell nearly 500 points. The stock started the trading session in green at Rs 16 against the previous close of Rs 15.87. Amid a spurt in trading volume by 1.72 times, the scrip gained to touch the intraday high of Rs 17,02, representing a gain of Rs 1.15 or 7.24 per cent. Last seen, the scrip held firmly in green and was trading at Rs 16.60 with a gain of 4.60 per cent. This despite Sensex falling 484.05 points or 0.63 per cent at 76,004.91. The market cap of the company stood at Rs 868.24 crore.
The scrip has outperformed the sector by 4.53 per cent and has been gaining for the last two days, and has risen 9.55 per cent in the period. Technically, it trades higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than the 200-day moving averages.
Relative Strength Index
The stock’s 14-day relative strength index (RSI) is 54.43. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
The action in the stock follows a major update from the company. In its latest exchange filing, the company said it has received a digital transformation project from a large UAE-based enterprise group.
Unified Digital Operating Platform
The company will build a unified digital operating platform for the group, integrating governance, business operations, financial management, and enterprise-wide decision-making into a single system. This client operates in sectors such as commercial real estate, property services, and managed operations.
The company stated that this new cloud-based platform will replace the existing disparate systems and create a single data system for the entire business. It will feature multilingual and mobile-first features and will also integrate with UAE PASS. The platform will also offer features such as AI, advanced analytics, intelligent automation, predictive reporting, and real-time data insights.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
