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Dev IT Shares (NSE: DEVIT) Bounce As Firm Secures Portal Project

Asktraders News Team trader
Updated 18 Jul 2024

Dev Information Technology shares (NSE: DEVIT), gained 1.39% in today's session, bringing 1 month gains to a very impressive 23.78%. News that the firm, an established name in the IT sector, has further expanded its portfolio by securing an order that encompasses the design and development of a comprehensive Holistic Integrated Portal has also boosted sentiment.

This significant undertaking is set to benefit more than 140 Polytechnic Colleges under the Directorate of Technical Education (DTE) and over 1500 Industrial Training Institutes (ITIs) under the Board of Technical Education, Rajasthan.

The company will be responsible for several core systems integral to the portal's success. For a period of three years, Dev Information Technology Ltd. will oversee the implementation and management of key components, including Admission Management, Examination Management, Apprenticeship & Placement Management, Inventory Management, Establishment Management, and Trainee Management System. These systems are pivotal in streamlining the educational and administrative processes across the numerous institutions, underscoring the company’s capability in handling large-scale projects.

In addition to this notable project, Dev Information Technology Ltd. has also secured work orders to provide vital software solutions for the Gujarat Chief Minister Office’s Dashboard Application. Their scope of work extends to furnishing SQL Server Enterprise & Windows Server, as well as offering software services to various departments of the Gujarat Government. This expansion of services cements the company's role as a crucial provider of governmental IT solutions.

Further asserting its growth trajectory, the board of Dev Information Technology Ltd. has recently approved a strategic move to acquire 100 percent of the shares in Dhyey Consulting Services Private Limited. This acquisition marks a significant step in the company’s ambition to consolidate its position and extend its reach in the consulting space.


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The execution of the share purchase agreement by Dev Information Technology Limited, the Promoters of M/s Dhyey Consulting Services Pvt Ltd., and Dhyey Consulting Services Pvt Ltd. reflects the board's commitment to enhancing their offerings and leveraging synergies between the two entities. This development promises to create a more robust and diverse service portfolio, potentially translating into enhanced value for stakeholders.

The combined effect of these new undertakings and the expansion through acquisition sets Dev Information Technology Ltd. on a path of sustained growth and prominence within the IT and educational sector. The integration of Dhyey Consulting Services Pvt Ltd. into their operations is expected to drive innovation and improve service delivery, bolstering their position in a competitive marketplace. Dev Information Technology Ltd.’s recent moves represent significant strides in their path towards operational excellence and market leadership.

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