Introduction:
Small cap company signs a Master Service Agreement with Wal-Mart India (Flipkart) to provide One-Time Placement Services across India. The agreement will cater to Flipkart’s dynamic resource requirements, with services delivered based on specific client demands.
Also Read: PSU stock jumps 3% after it receives order worth ₹148 Cr from IIM Raipur
Share price movement of ITCONS E-Solutions:
On December 6, 2024, ITCONS E-Solutions Ltd opened at ₹681.90, up 1.47% from its previous close of ₹672.00. The stock reached a high of ₹681.90 and a low of ₹680.95. By 10:14 AM, it traded at ₹681.90, with a market cap of ₹342.91 crore.
ITCONS E-Solutions Signs Agreement with Flipkart:
ITCONS E-Solutions Limited announced the signing of a Master Service Agreement (MSA) with Wal-Mart India Private Limited (Flipkart) for providing One-Time Placement Services across India. The agreement aims to cater to Flipkart’s dynamic resource requirements.
The MSA will involve ITCONS providing resources as per Flipkart’s specific needs, with the quantum and number varying according to client demands. This agreement does not involve any shareholding or significant rights for either party.
This agreement does not fall under related party transactions, with no connection to the promoter or the group companies. ITCONS assured that the transaction is at arm’s length and complies with SEBI’s listing obligations and disclosure requirements.
Recent news on ITCONS E-Solutions:
As of December 02, 2024, ITCONS E-Solutions Ltd. secured a Rs 20.8 million contract from the Defence Research & Development Department for hiring 39 personnel over 18 months, strengthening its presence in the government manpower solutions sector.
Ace investor holding in ITCONS E-Solutions:
Saurabh Gangal
Saurabh Gangal holds a 6.84% stake in ITCONS E-Solutions Ltd, owning 343,728 shares valued at ₹23.4 crore. This significant shareholding reflects his confidence in the company’s growth prospects and financial performance.
Ravindra N Sakla
Ravindra N Sakla holds a 2.55% stake in ITCONS E-Solutions Ltd, with 128,000 shares valued at ₹8.7 crore. This investment highlights his trust in the company’s potential for growth and long-term value.
Stock performance of ITCONS E-Solutions for Period of 1 week, 6 months and 1 year:
ITCONS E-Solutions Ltd has shown impressive growth, with a 10.5% return over the past week, 1,113% over six months, and 1,462% over the past year, highlighting its exceptional performance and potential for future success.
Also Read: Alcohol stock jumps after it launches its new craft gin in India
Shareholding pattern of ITCONS E-Solutions:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 59.40% | 59.40% | 59.40% |
| FII | 0.00% | 0.00% | 0.00% |
| DII | 0.10% | 0.00% | 0.00% |
| Public | 40.60% | 40.60% | 40.60% |
About ITCONS E-Solutions:
ITCONS E-Solutions (BSE: ITCONS) was incorporated in 2007 as a private company and became public in 2022. The company specializes in providing human resource services, including recruitment and staffing, to both public and private organizations.
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.
