Sattrix Information Security rises on inking MoU to form JV in US

The business of the joint venture will be to capture new business and establish name in the US market in the field of cyber security and overall IT Transformation business

Sattrix Information Security is currently trading at Rs. 194.00, up by 4.00 points or 2.11% from its previous closing of Rs. 190.00 on the BSE.

The scrip opened at Rs. 194.00 and has touched a high and low of Rs. 194.00 and Rs. 194.00 respectively. So far 1000 shares were traded on the counter.

The BSE group 'MT' stock of face value Rs. 10 has touched a 52 week high of Rs. 212.95 on 11-Sep-2024 and a 52 week low of Rs. 77.95 on 05-Mar-2025.

Last one week high and low of the scrip stood at Rs. 194.50 and Rs. 187.00 respectively. The current market cap of the company is Rs. 129.20 crore.

The promoters holding in the company stood at 73.53 % while Institutions and Non-Institutions held 0.16 % and 26.31 % respectively.

Sattrix Information Security has signed a Memorandum of Understanding (MoU) with R F TrustCo PTE, a Singapore-incorporated entity, represented by its Co-Founders Mr. Mohammad Mobasseri and Mr. Richard Rundle, and Mr. Ali Yavari, Financial Advisor (Assistant Vice President) at Merrill Lynch to form a joint venture (JV) company in United States of America under the name -- World Tech Nexus Corporation for the purpose of conducting joint business operations. 

The business of the joint venture will be to capture new business and establish name in the US market in the field of cyber security and overall IT Transformation business. The business may include other technologies and products like Security and IT infrastructure; Transformation Business - Product services and licensing; Large scale application development - as the parties agree.

Sattrix Information Security is in the business to develop customer-centric cyber security solutions and it aims to deliver end-to-end cybersecurity services to enterprises in the India, USA and Middle East (UAE).