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Bangalore: 3i Infotech ended the trading as one of the top gainers with a gain of Rs.10.55 (11.96 percent). After opening at slightly higher value to its previous close, the stock of 3i Infotech gained the momentum in afternoon trade and touched the 52-week high of Rs.102.90. Overall, 15,634,517 shares were traded throughout the day with a current P/E ratio at 97.75.

3i Infotech is a technology company with a range of solutions. Its portfolio of offerings comprises software products, technology services and transaction services. A majority of these solutions are for the banking, financial services and insurance industry segments, and also for the government sector. Yesterday, Private sector lender ICICI Bank sold 4.41 percent stake in software services provider 3i Infotech for Rs.46.17 crore in open market transactions at both the major bourses in the country.

ICICI Bank, a promoter group firm of 3i Infotech, sold 28.42 lakh equity shares of the IT firm at a price of Rs.79.79 per piece aggregating to Rs.22.67 crore, according to bulk deal data available on the Bombay Stock Exchange. In the quarter ended June 30, 2009, the company reported net sales of Rs.59776 lakh against Rs.46847 lakh for the quarter ended June 30, 2008.

Other technology companies have also performed well and ended the trading in green zone. InfoTech Enterprises went up by 1.85 percent, Blue Star Infotech surged 0.32 percent, Glodyne Technoserve up 0.61 percent and Tech Mahindra soared 0.92 percent. Out of eight stock analysts currently following 3i Infotech, the consensus recommendation is that the stock will underperform, with three analysts suggesting to buy the stock. With 1,260,898 units of shares, JM Contra Fund holds the highest number of shares in 3i Infotech.