Datamatics' shares up nearly 20% in early trade

Shares of Datamatics Global Services traded nearly 20% in an early morning trade on Tuesday.

The company in a filing to the Bombay Stock Exchange (BSE) on Monday said that the board of directors will consider and give final approval to the financial results and dividend for FY16 in its meet on May 27. 

The shares of Datamatics were trading up 19.98% at Rs 63.35 per scrip on the Bombay Stock Exchange (BSE) in the morning trade. 

At the National Stock Exchange (NSE), too, the company's shares were trading up 19.98% at Rs 63.05 per scrip in an early morning trade. 

The IT company in its filing to the BSE on May 9 had said that its consortium has won a contract to provide automatic fare collection system for the North-South corridor of the Lucknow Metro rail project resulting in a surge in the company's stock since last week.

The contract has been awarded to the consortium at an approximately Rs 64 crore to execute the automated fare collections systems for the metro project, the company said in a statement. 

At 10:36 hours, the stock of the company was trading slightly down from its early morning trade at 16.95 % or Rs 8.95 to Rs 61.75  per scrip on the BSE.