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3i Infotech secures multi-year contract worth Rs51 crore from HPCL; stock zooms ~3%

21 Nov 2022 , 11:56 AM

3i Infotech Limited announced a multi-year contract with Hindustan Petroleum Corporation Limited (HPCL), an Indian state refiner. The order value is estimated to be Rs51 crore (including taxes) over a three-year period.

HPCL has been a long-term customer of 3i Infotech, with the company primarily serving them in North India. However, under the new contract, 3i Infotech would be able to provide its services across the country, including all HPCL locations and datacenters.

Overall, they will oversee and maintain HPCL’s IT infrastructure, which includes offices, refineries, and retail units spread across 70+ circles in India. 3i Infotech plans to expand its presence in India as well as in the Oil and Natural Energy sector. The company’s recruitment plans would be accelerated, with close to 240 engineers hired in the first quarter.

3i Infotech’s Digital Infrastructure Managed Services (DIMS) include IT Infrastructure and Cloud, allowing clients to optimize their IT expenditures.

With over 200 customers, 3000 infrastructure professionals, and an integrated HybridNXT Support framework for On-Prem & Hybrid Eco-System, the company transforms enterprise IT Infrastructure with a laser focus on uptime, MTTR, and regulatory compliance.

At around 11.52 AM, 3i Infotech was trading at Rs43 up by 2.63% from its previous closing of Rs41.90 on the BSE. The scrip opened at Rs43.80 and touched intraday high and low of Rs43.95 and Rs42.40 respectively.

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