In a notable market development on May 8, shares of Zaggle Prepaid Ocean Services Limited experienced a significant boost, surging over 7% during trading hours. This uptick was prompted by the announcement of a strategic partnership with Grant Thornton Bharat LLP. This collaboration is expected to enhance Zaggle’s offerings in financial solutions for corporate expense management.
Partnership with Grant Thornton
Zaggle Prepaid, known for its innovative SaaS solutions, has formalized a three-year channel partner agreement with Grant Thornton. According to the company’s statement, this partnership aims to integrate the Zaggle Spend Management platform into Grant Thornton’s suite of services for corporate clients and large enterprises. This move positions Zaggle to expand its reach in the corporate financial management sector.
- Key Agreement Highlights:
- Duration: Three years
- Partner: Grant Thornton Bharat LLP
- Focus: Zaggle Spend Management platform for corporate clients
Previous Contracts and Growth
Interestingly, this isn’t the first significant development for Zaggle this year. Just last month, the firm secured a contract with Aster DM Healthcare to provide its Zaggle Save solution, focusing on employee expense management and benefits. This one-year agreement underscores Zaggle’s growing reputation in the healthcare sector, enhancing its portfolio of clientele.
Performance Insights
The stock has been a part of Ashish Kacholia’s investment portfolio, with the investor owning 30,03,356 shares, translating to a 2.24% stake as of the end of March 2025. Following the announcement of the new partnership, Zaggle shares opened at ₹330.55, slightly above the previous close of ₹324.85, and quickly rose to a high of ₹349.00, marking a 7.43% increase during intraday trading.
- Zaggle Stock Performance:
- Current Trading Price: ₹345 (up by 6.20%)
- YTD Loss: 36.76%
- 1-Year Gain: 17%
Despite the recent gains, the stock has faced challenges in the current market climate, reflecting a 36.76% decline year-to-date. However, it has shown resilience with a 17% increase over the past year.
Upcoming Developments
Investors will be keenly watching as Zaggle’s board is scheduled to convene on May 12 to discuss the financial outcomes for the March 2025 quarter. This meeting could provide further insights into the company’s performance and strategic direction moving forward.
In summary, the latest developments surrounding Zaggle Prepaid not only highlight its growing influence in the financial solutions space but also reflect the dynamic nature of the stock market, particularly under the guidance of seasoned investors like Ashish Kacholia.
