Shares of small-cap Orient Technologies, a recent entrant on Dalal Street, rebounded from early losses in today’s intraday trade, February 27, surging 7.54% from the day’s low to ₹337.90 apiece. The sharp recovery followed the company’s announcement of a collaboration with Amazon Web Services (AWS).
In an exchange filing today, the company announced its partnership with AWS India to provide advanced GPU and AI services. By leveraging AWS’s state-of-the-art GPU chips, AI solutions, and expansive ecosystem, Orient Technologies aims to accelerate AI innovation and contribute to India’s technological advancements.
Speaking on the collaboration, Umesh Shah, Director of Orient Technologies Limited, said, “Orient Technologies is excited to be part of this transformative journey and looks forward to harnessing AWS’s powerful tools and services to shape the future of AI in India. We are also proud to collaborate with MeitY in supporting mission-critical infrastructure across various national initiatives.”
“With AWS’s support, we are poised to play a pivotal role in advancing the IndiaAI mission and driving large-scale AI deployment and global innovation. Together, we are dedicated to positioning India as a global AI leader and driving innovation that will benefit businesses and communities alike. Our continued engagement with MeitY reinforces our expertise in managing large-scale digital infrastructure. We remain committed to enabling secure and resilient technology solutions for India’s digital future,” Umesh Shah added.
For the December ending quarter (Q3FY25), the company reported a net profit of ₹13 crore, a marginal improvement as compared to the net profit of ₹11 crore reported in the same period in the last fiscal year. The revenue from operations during the reporting quarter came in at ₹207 crore as against a revenue of ₹156 crore in Q3FY24.
Stock corrects 52% from peak, still 56% above IPO price
The company’s shares debuted on the stock exchanges in late August, listing at a 40% premium at ₹288 apiece compared to the IPO price of ₹206. Following their strong debut, the shares maintained their winning streak for the next five months, reaching an all-time high of ₹674.85 apiece.
However, they failed to sustain the same upward momentum in the subsequent period amid a sharp sell-off in the Indian markets. At the current trading price of ₹321, the stock is down 52% from its peak but remains 56% higher than the IPO price.
Orient Technologies is an information technology (IT) solutions provider headquartered in Mumbai, Maharashtra, and was incorporated in 1997. It offers a diverse portfolio of products and services and classifies its business into three verticals: IT infrastructure, IT-enabled services (ITeS), and cloud and data management services.
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