Penny inventory hits 5% higher circuit after asserting partnership with Cynomi for cybersecurity  

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Shares of this microcap firm clocked 5 p.c higher circuit in Friday’s buying and selling session after asserting partnership with Cynomi to Improve Cybersecurity in Healthcare. The shares delivered a 25 p.c return in simply 5 buying and selling classes. 

With a market capitalization of Rs. 156 crores, the shares of SecureKloud Applied sciences Ltd began Friday’s buying and selling session on a better be aware at Rs. 47.05, clocking a 5 p.c higher circuit in the course of the morning trades in comparison with its earlier of Rs. 44.85 apiece. 

Such a bullish motion within the share value was noticed after the corporate in an change submitting introduced that their step-down subsidiary, Healthcare Triangle Inc. had partnered with Cynomi, a pioneer vCISO platform vendor to introduce an revolutionary Digital Chief Data Safety Officer (vCISO) service tailor-made particularly for the healthcare supplier market. 

The vCISO platform, powered by Cynomi’s cutting-edge AI expertise, affords a complete resolution designed to evaluate and improve shoppers’ cybersecurity and compliance posture constantly. 

By implementing strategic cybersecurity remediation plans, conducting steady safety assessments and executing rigorous exterior scans, the platform identifies and addresses essential vulnerabilities throughout externally seen IPs and URLs, together with however not restricted to ports, protocols, encryption, and web sites. 

Moreover, the corporate talked about that this partnership goals to empower healthcare suppliers with full visibility into their cybersecurity and compliance standing, enabling them to successfully handle their cyber posture, preserve rigorous compliance requirements, and considerably scale back their threat of cyber threats. 

Earlier, the corporate additionally introduced partnership with a number one well being system to utilise cloud-based AI and machine studying options. 

In the course of the current monetary quarters, the corporate’s fundamental enterprise parameters confirmed combined actions with the working revenues, lowered by 6.3 p.c from Rs 93 crores throughout Q2FY24 to Rs 87 crores in Q3FY24, and the latter, maintaining the timeframe the identical, lowered their losses from Rs 17 crores to Rs 13 crores. 

The corporate derives its income from varied sources, with the Healthcare and Life Science vertical contributing to 66.2 p.c of the entire income, whereas the Data, Communication, and Expertise vertical account for the remaining 33.8 p.c of income. 

SecureKloud Applied sciences Restricted is a cloud-native firm with a mix of merchandise, providers, and frameworks to resolve issues round Cloud, Enterprise Safety, Blockchain, Choice Engineering, and lots of extra. The corporate offers cloud experience, automation, and analytics and has partnerships with Microsoft Azure, Amazon Internet Companies, and so forth. 

Written By Vaibhav Patil 

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