Small-cap IT stock Dev InfoTech jumps 14% despite weak market; what's the latest buzz?

Dev Information Technology (Dev InfoTech) shares surged more than 14% during the intraday trading session on Thursday, April 23, after the investors showed strong value buying interest post the company subsidiary achieved ‘elite tier’ partner status with global tech giant Microsoft.

NSE filings showed that Dev InfoTech’s subsidiary Dhyey Consulting Services Pvt. Ltd has earned all six Microsoft Solutions Partner Designations (SPD), entering the group of a very few companies to hold a complete suite of Microsoft.

Shares of Dev InfoTech surged 14.3% to hit its intraday high of ₹37.45 after the company’s exchange filing on Thursday, compared to ₹32.76 at the previous market close, according to NSE data.

Microsoft elite partner

The Gujarat-based small-cap IT services company, Dev InfoTech, now has expertise across the Microsoft ecosystem, serving SMBs, SMEs, and large enterprise clients, according to an exchange filing.

The company will now be able to work in Azure Infrastructure, Digital & App Innovation, Modern Work ecosystem, Data and AI ecosystem, Security, and for Business Applications, as the firm aims to position itself in the global IT market.

“This achievement is a testament to the technical excellence of our delivery teams and our commitment to a customer-centric sales approach. It solidifies DEV IT’s role as a trusted, value-based, end-to-end IT partner for organisations worldwide,” said Pranav Pandya, the chairman of Dev Information Technology, in the official statement.

What other factors fuelled today’s gains?

Dev Information Technology’s shares have been trading on a bullish momentum in the last one-month period, rising over 38% on NSE, as per the exchange data.

On Thursday, after the Microsoft ‘elite tier’ partner update, the shares reversed their trend on the Relative Strength Index (RSI) 14-day average indicator, crossing into the ‘overbought’ territory, compared to the shares trading in the ‘oversold’ zone in the early market.

At 10:47 am, the RSI 14 surged past the overbought zone to touch over 90 levels during the intraday session at the daily high, fuelled by high volume trading. The trading volumes surged past 6.149 lakh across both the stock exchanges on Thursday.

As of 12:56 pm, Dev InfoTech shares were trading 5% higher at ₹34.40, compared to ₹32.76 per share at the previous stock market close. At this time, the RSI 14 of the stock cooled down to trade around 44 levels on April 23.

NSE data also showed that earlier this month, the company also bagged a ₹26 crore order to design, develop, integrate, and maintain software/applications/platforms for the State-run firm National Informatics Centre Services Incorporated (NICSI).

The project also involved creating and maintaining a National Pharmacists Registration Tracking System of the Pharmacy Council of India (PCI).

In the past month, the company also signed an exclusive Master Distributor agreement with A21 Technologies LLP for the nationwide distribution of its AI-powered business intelligence software, Talligence.

Dev InfoTech share price trend

Dev InfoTech shares have delivered more than 212% returns on their investment in five years, but the company’s stock has declined 12% and 23% in the last three and the past one year period, respectively, according to NSE data.

However, the small-cap IT stock has gained 2.2% so far in 2026 and is up 38% in the last one month. Dev InfoTech shares were trading 15.9% higher over the past five trading sessions on NSE.

The company shares hit their 52-week high level of ₹50.89 on August 21, 2025, while the 52-week low was at ₹22.25 on March 2, 2026, according to the exchange data. The small-cap company’s market capitalisation (M-Cap) was at ₹192.76 crore as of Thursday’s trading session.