FCS Software up on launching mobile applications division
FCS Software Solutions has launched mobile applications division with Rs 20 crore planned investment. With the launch of this application division the company is projecting a top line addition of Rs 30 crore and a net margin impact of Rs 10 crore from the next year. The company is also actively looking at acquisition in this space which could act as a catalyst to grow the mobile applications division.
The scrip is currently trading at Rs 3.52, up by 0.01 points or 0.28% from its previous closing of Rs 3.51 on the BSE. The scrip opened at Rs 3.51 and has touched a high and low of Rs 3.55 and Rs 3.45 respectively. So far 23,07,509 shares were traded on the counter.
The BSE group ‘B’ stock of face value Re 1 has touched a 52 week high of Rs 8.88 on 11-Dec-2009 and a 52 week low of Rs 1.74 on 13-Jul-2009. Last one week high and low of the scrip stood at Rs 4.10 and Rs 3.50 respectively. The current market cap of the company is Rs 361.37 crore. The promoters holding in the company stood at 31.34% while Institutions and Non-Institutions held 0.03% and 33.61% respectively.
Further, the company predicts that this creation which has focus on the mobile application division could become its major revenue stream in the next 2-3 years, considering the 7 billion application downloads made by the mobile devices users and revenue of approximately $4 billion in the year 2009.
FCS plans to become a leader in development of mobility solutions for enterprises that can rapidly expand their global workforce access to business critical information and resources.
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