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The acquisition of DecisionOne enabled Glodyne to add fortune 100 client base, long entranced relationships, and a business, where there was huge opportunities to work on cost optimization and revenue expansion plans.
Glodyne Decisionone Corporation has been working on building a good pipeline for the Business and it is confident of adding new deals in the coming years. Few of the large deals in the Technology Services,Healthcare and Manufacturing space are expected to expand the revenues of Glodyne Decisionone Corporation. The company got "Best Under a Billion" 2011-2012, award for the year 2011-12, by Forbes Asia. Also "Outstanding Entrepreneurship Award" was awarded to Mr.Annnand Sarnaaik at the The Asia Pacific Entrepreneurship Awards 2011-12. It was also a winner of the Deloitte Technology Fast 500 AsiaPac Programe 2011-12. Glodyne' Education Managed Services was announced as the winner at "World Education Award, 2011-12". ‘E-Shakti’ project of Glodyne was adjudged as the winner at ‘EDGE’ awards at INTEROP 2011. E-Shakti’ was declared as the best ‘ICT initiative in the Country’ at the PC Quest 2011 Awards. It has been ranked as one of the top performing mid-sized companies by Inc India.
Now continuing with my discussion on the shareholding pattern, let me say that while I find Vanaja Sundar Iyer (From 2.73% to 2.84%) and SI Investments and Broking Pvt Ltd (From 1.47% to 2.02%) increasing their stake, speaking sequentially, the new entrant is the giant, ICICI Securities Ltd who has taken 1.37% in the company in December, 2012 quarter. Also, the total institional holdings has increased from 15.42% in September 2012 quarter to 17.20% in December, 2012 quarter. Multiple funds holding stakes in Glodyne Technoserve Ltd, could be a sign of growth potential. Therefore, increase in institutional holding, on sequential basis, may mean your investment is a tad safer, since the company may now be more professionally run. This makes the scrip look further attractive. I am expecting series of upper circuits in the counter in the coming days. CMP: Rs.16.80.