IT stock jumps after signs agreement with Redington for employee benefits solutionIT stock jumps after signs agreement with Redington for employee benefits solution

Introduction:

Leading IT services company enters into a strategic partnership with Redington to co-create an employee benefits solution. The collaboration, which spans five years, will cater to corporate clients, leveraging Google’s expertise through Redington.

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Share price movement of Zaggle Prepaid:

On February 18, 2025, Zaggle Prepaid Ocean Services Ltd opened at ₹345.00. The stock hit a high of ₹352.55, a 2.02% rise from its previous close of ₹345.90, and a low of ₹328.65. By 12:39 PM, it traded at ₹328.65 with a market cap of ₹4,410.65 crore.

Zaggle Partners with Redington for Employee Benefits Solution:

Zaggle Prepaid Ocean Services Limited has entered into a strategic partnership agreement with Redington Limited. The partnership will focus on co-creating an employee benefits solution for Zaggle’s corporate clients, with Google involved via Redington.

The partnership aims to provide innovative employee benefits solutions by leveraging Google’s technology and Zaggle’s services. The collaboration will enhance corporate offerings in the employee benefits space, benefiting companies across various sectors.

This agreement is set to last for five years, marking a significant milestone in the collaboration between Zaggle and Redington. The deal strengthens both parties’ position in the growing corporate services market.

Recent news on Zaggle Prepaid:

As of February 07, 2025, Zaggle Prepaid Ocean Services Ltd reported a 29.76% increase in net profit, reaching ₹19.75 crore for Q3 FY24. Sales surged 68.86% to ₹336.89 crore, compared to ₹199.51 crore in the previous year’s quarter.

Ace investor holding in Zaggle Prepaid:

Ashish Kacholia 

Ashish Kacholia holds a 2.16% stake in Zaggle Prepaid Ocean Services Ltd, with 2,903,356 shares valued at ₹95.2 crore. This strategic holding reflects his confidence in the company’s growth prospects in the prepaid services sector.

Ajay Kumar Aggarwal

Ajay Kumar Aggarwal holds a 1.01% stake in Zaggle Prepaid Ocean Services Ltd, owning 1,349,615 shares valued at ₹44.3 crore. His investment highlights confidence in the company’s potential within the prepaid services market.

Stock performance of Zaggle Prepaid for Period of 1 week, 6 months and 1 year:

Zaggle Prepaid Ocean Services Ltd has faced a 9.56% drop in stock price over the last week and a 6.15% decline over six months. However, the company shows impressive growth with a 36% return over the past year.

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Shareholding pattern of Zaggle Prepaid:

Particulars	Dec 2024	Sep 2024	Jun 2024
Promoter	40.10%	43.90%	43.90%
FII	9.20%	6.10%	6.00%
DII	14.60%	10.70%	7.30%
Public	36.20%	39%	43%

About Zaggle Prepaid:

Zaggle Prepaid Ocean Services Ltd (NSE: ZAGGLE) offers innovative financial solutions and products for managing business expenses of corporates, SMEs, and startups. Headquartered in Hyderabad, the company operates at the intersection of SaaS and fintech.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.