One Point One Solutions stock rises 5% amid major contract wins
MUMBAI, INDIA — Shares of One Point One Solutions Limited surged over 5% today, hitting an intraday high of ₹74.28 (US$0.89) per share from a previous close of ₹69.69 (US$0.83).
This increase marks a significant milestone for the business process outsourcing (BPO) company as it reaches its 52-week high and showcases a remarkable multibagger return of 136.6% from its 52-week low of ₹31.40 (US$0.38) per share.
The stock’s upward trajectory is largely attributed to One Point One Solutions’ announcement of securing two major contracts. Although the specific names of the companies were not disclosed to the public, One Point One is confident that these deals will mark a major step forward in the company’s global expansion strategy.
Swedish tech partnership boosts global position
The first contract is with a leading publicly listed Swedish company, which enhances the firm’s global market position and technological reputation. This partnership involves three key development projects: a Customer Specification Application, a Payroll Management Platform, and a User Experience App for Industrial Flow Heaters.
These projects are designed to improve efficiency and streamline operations for the Swedish client, which has a significant presence in Sweden, India, and the United States.
Healthcare sector growth with U.S. telehealth contract
In addition to the Swedish contract, One Point One Solutions also secured another significant deal with a prominent telehealth company based in Atlanta, United States. This move underscores the company’s strategic expansion into the healthcare vertical, capitalizing on the sector’s growth potential.
The telehealth company offers an innovative platform that facilitates virtual consultations and healthcare management solutions. Under this contract, One Point One Solutions will provide contact center solutions and data verification services, further solidifying its presence in the healthcare industry.
Company growth and strategic acquisitions
Founded in 2006, One Point One Solutions is a comprehensive provider of BPO, knowledge process outsourcing (KPO), IT services, technology transformation, and analytics. It is ranked #367 in the OA500 2024, an objective index of the world’s top 500 outsourcing companies.
The company has recently expanded its operations by acquiring a significant stake in ITCube Solutions, further strengthening its IT and BPM/KPO services capabilities.
One Point One Solutions is also committed to skill development, having trained over 1,300 rural youths in FY23-24 through collaborations with government schemes. This aligns with its broader mission to provide comprehensive training and promote awareness about skill development opportunities among rural communities.
Overall, the company’s strategic moves and robust growth have positioned it as a noteworthy player in both the technology and healthcare sectors. Investors are advised to keep an eye on this micro-cap stock as it continues to demonstrate strong performance and growth potential.
