Shares of AGS Transact Technologies Ltd surged 13.5% on Friday over bagging an order from India’s largest public bank, State Bank of India (SBI), for the supply of 1,350 automated teller machines (ATMs) under its banking automation solutions portfolio. 

According to one of the company’s exchange filings, SBI will strategically deploy the AGS-branded ATMs pan-India during FY24. 

AGS Transact’s shares surged to an intraday high of Rs 69.85, up 13.5% from the previous closing price on the National Stock Exchange (NSE). The scrip closed 7.07% higher at Rs 65.85. 

AGS Transact Technologies provides various customised products and services comprising ATM and CRM outsourcing, cash management and digital payment solutions to banks and corporate entities. 

The omnichannel payment solutions provider has recently completed the integration of 8,000 ATMs/CRMs under its Managed Services portfolio for Punjab National Bank and Union Bank of India. As of September 30, 2023, AGS Transact installed, managed, or maintained 77,658 ATMs/CRMs across 2,200 cities and towns in the country.