Dev Information Technology Ltd shares jump 4.28% as company announces receipt of new work order
Why did Dev Information Technology Ltd shares jump today?
Shares of Dev Information Technology Ltd (DEVIT) saw a significant upward movement today, Thursday, at 02:25 PM, with the stock price jumping by . This positive surge pushed the company's share price to . The primary trigger for this rally appears to be the positive business development announced by the company.
The company officially informed stock exchanges that it has secured a valuable enterprise technology order from the Central Power Research Institute (CPRI), Bangalore, which operates under the Ministry of Power, Government of India. The order, valued at approximately , involves the complete overhaul and management of the CPRI's official website. Specifically, Dev IT will be responsible for the website's redesign, development, testing, security audit, compliance certification, and its ongoing maintenance in a bilingual format.
This new project is a noteworthy win for the company as it represents a contract with a key government research institution. Securing such a project not only boosts the company's order book but also reinforces its credibility in delivering critical digital infrastructure and services to the public sector. Investors likely viewed this announcement as a positive indicator of the company's growth prospects and its ability to win significant government tenders, leading to the enthusiastic buying that drove the share price higher.
What does Dev Information Technology Ltd do?
Dev Information Technology Ltd is a publicly listed technology company with a presence in Gujarat, Maharashtra, Rajasthan, and Canada. It is registered as a public limited company incorporated in 1997, with its corporate office located in Ahmedabad, India. The company is actively involved in the enterprise technology sector, providing solutions to various clients.
Recently, the company secured a significant enterprise technology order from the Central Power Research Institute Bangalore, which operates under the Ministry of Power, Government of India. This contract highlights the company's role in delivering technology services for projects within the power research domain, reinforcing its business in the IT industry.
Dev Information Technology Ltd Financials
In CroresDev Information Technology Ltd's financials indicate a decline between March 2026 and June 2026, with revenue falling from ₹53.87 Crores to ₹44.13 Crores and profit decreasing substantially from ₹9.09 Crores to ₹2.07 Crores, reflecting a downward trend in both metrics over the period.
Dev Information Technology Ltd Shareholding Pattern
Promoter holding stands at 41.58% of the total share capital. Foreign Institutional Investors (FIIs) hold 0.33% stake in the company, while Domestic Institutional Investors (DIIs) hold 0.0%. Public shareholders hold the remaining 58.08% stake in Dev Information Technology Ltd.
Dev Information Technology Ltd FAQs
Q: Why did Dev shares jump 4.28% today?
Intimation Regarding Work Order Received. This corporate action caught investor attention, leading to increased trading activity in the stock.
Q: What is the shareholding pattern of Dev Information Technology Ltd?
As per the latest data, promoters hold 41.58% stake in Dev Information Technology Ltd, while FII holding stands at 0.33%. Domestic institutional investors hold 0.0%, and public shareholders account for 58.08% of the equity.
Q: What is the current stock price of Dev Information Technology Ltd?
Dev Information Technology Ltd shares are currently trading at ₹24.59, recording a gain of 4.28% from the previous close.
Q: What is the market capitalization of Dev Information Technology Ltd?
The company currently has a market capitalization of ₹138.6 crore, reflecting its valuation in the Indian equity market.