Stock in Focus – One Point One Solutions: Check Key Details Here

According to One Point One Solutions, the acquisition will enable the company to expand its current verticals, including healthcare and offerings in IT services.

Share Market News: The shares of One Point One Solutions Limited, a business Process Management (BPM) services provider, will be in focus on Monday as the company informed exchanges that it has completed the first tranche of acquisition in ITCube. The company said it has completed the acquisition of a 76 per cent stake in ITCube. With this, ITCube has become a subsidiary of the company.

“1st tranche of acquisition of 76% stake of ITCUBE has been completed today i.e. March 1, 2024 and consequently, ITCUBE has become a subsidiary of the Company,” the company said in a filing.

During the special trading session of the stock market on Saturday, a weakness of 5.64 per cent was recorded in the shares of the company. The scrip, with a market cap of Rs 1230 crore, fell by Rs 3.45 to the level of Rs 57.70.

The shares of One Point One Solutions have a 52-week high of Rs 61.95 and a 52-week low of Rs 57.70.

Earlier, the company said it is expanding its global footprint through majority stake acquisition in ITCube. According to One Point One Solutions, the acquisition will enable the company to expand its current verticals, including healthcare and offerings in IT services.

India is one of the preferred destinations for setting up Global Capability Centers (GCCs). The IT Industry pegged at 7.4 per cent of India’s GDP, is projected to be 10 per cent in 2025. Besides, India accounts for 40 per cent of global sourcing spending.