Stock in pictures – One Point One solutions: view the most important details here

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

Share market news: Shares of One Point One Solutions Limited, a business process management (BPM) services provider, will be in the spotlight on Monday as the company informed stock exchanges that it has completed the first tranche of its acquisition in ITCube. The company said it has completed the acquisition of a 76 percent stake in ITCUbe. This makes ITCUbe a subsidiary of the company.

“The first tranche of the acquisition of a 76% stake in ITCUBE was completed today, i.e. on March 1, 2024, and accordingly, ITCUBE has become a subsidiary of the company,” the company said in a filing.

During the stock market’s special trading session on Saturday, a weakness of 5.64 percent was recorded in the company’s shares. The scrip, with a market capitalization of Rs 1,230 crore, fell by Rs 3.45 to the level of Rs 57.70.

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

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

India is one of the preferred destinations for setting up Global Capability Centers (GCCs). The IT industry, which accounts for 7.4 percent of India’s GDP, is expected to reach 10 percent by 2025. Moreover, India is responsible for 40 percent of global procurement expenditure.