ABM Knowledgeware hits upper circuit after contract win

The share price of ABM Knowledgeware hit the upper circuit on Monday amid reports that the company had been awarded a strategic contract in the infrastructure development space worth Rs 103.5 crore.

The project relates to the establishment of an integrated digital project management platform consisting of a 5D Building Information Modeling (BIM) using BIM enabled Common Data Environment (CDE), Enterprise Resource Planning (ERP) system, Geographic Information System (GIS) and business analytics system.

This is a significant development for the company as it opens doors to the crucial areas of project management in the infrastructure sector which the government of India has plans to invest over Rs 1 crore.

ABM Knowledgeware Limited (ABM) is an IT company, which offers software and services. The company is engaged in computer programming, consultancy and related activities.

Reacting to this announcement, the stock of ABM locked at its upper circuit of 20 per cent and thereby trading was suspended at Rs 55.35 per share, up by 19.03 per cent or Rs 8.85 per share. The stock’s 52-week high is Rs 74.90 and the 52-week low is Rs 35.25 on BSE.