This Recent Stock Market Debutant Is Locked In Upper Circuit For Second Day

The digital payment solutions company AGS Transact is in high demand and for the second day in a row the company's stock is locked in 10% upper circuit at a price of Rs. 120.80 per share. This company was in fact the first debutant of 2022 and made a weak listing on account of volatility in the secondary market. After hitting the low of Rs. 95, the stock has zoomed considerably.

This Recent Stock Market Debutant Is Locked In Upper Circuit For Second Day

The company's revenue from operations in the December quarter earnings are at Rs. 356.04 crore, while its net loss has been reported at Rs. 12.28 crore.

Santosh Meena, Head of Research, Swastika Investmart, said the financial performance of AGS in the last three years is not encouraging. "The outlook is still not promising but valuations look comfortable after the recent correction," he said. "Conservative investors should avoid this counter while aggressive investors can accumulate at current levels," he added.

Meanwhile, benchmark indices at the time of writing this story was down by 0.66% on both Sensex and Nifty, with Nifty holding just above 16,500 points.

AGS Transact is among the largest integrated omni-channel payment solutions in India in terms of rendering digital as well as cash-based solutions to corporate and bank clients. The company's offerings include ATM and Cash Recycler Machines (CRM) outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets.

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