Ducon to expand its IT business segment into Mobile App Market

Ducon lnfratechnologies Limited (BSE: 534674, NSE: DUCON) an emerging technology company providing services & solutions in the infrastructure & Information Technology (IT) sectors to multiple business segments across varied industries announced that it is expanding its IT business segment activities in the Mobile Applications (Mobile App) market.

The Company has decided to expand its IT business segment further due to the emergence of tremendous business opportunities in the Mobile App ecommerce globally as mobile phones are getting extremely advanced and more and more people are starting to use their cell phones to purchase goods & services for their daily lives and conduct all types of financial transactions through Mobile Apps. Businesses worldwide are also making their goods and services available to consumers through Mobile Apps which were earlier provided through websites. The Company has been developing an ecommerce transactional Mobile App platform through its US subsidiary, which aims to fulfill the needs of consumers and small business owners by allowing users to conduct various financial and business transactions through the Company's Mobile App in daily use and hence make them more productive.

"According to a new study, the Mobile App economy worldwide will exceed $200 Billion by 2020 and India alone will add more than 500 million consumers to mobile transactions in the next several years, a 3.5 Iakh crore opportunity, as more people will be using their Mobile Apps due to greater availability of bandwidth in India," said Mr. Aron Govil, Chairman of the Company. "And we definitely want to take advantage of these emerging business opportunities," continued Mr. Govil. "In our infrastructure business segment we still continue to work diligently in submitting new bids and revising older ones for FGD projects, and we are very hopeful that some of these FGD opportunities will get decided and materials soon," Mr. Govil further added.

The Company, through its USA subsidiary, plans to launch in the next couple of months, two separate Mobile Apps: one for operation outside India and the other for the Indian market. These innovative Mobile Apps would allow users to push the boundaries of ecommerce by offering greater flexibility and ease of operation in person-to-person financial and business transactions. The Company will provide further details about these Mobile Apps and the progress of their launch in the coming weeks.

Shares of Ducon Infratechnologies Ltd was last trading in BSE at Rs.10.1 as compared to the previous close of Rs. 10.77. The total number of shares traded during the day was 57632 in over 148 trades.

The stock hit an intraday high of Rs. 11.1 and intraday low of 10.01. The net turnover during the day was Rs. 596959.

Source : Equity Bulls

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