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Actionable news in NTWK: NetSol Technologies Inc.,

NetSol Technologies (NTWK) Stock Soars on $100 Million Contract Sale

NEW YORK (TheStreet) -- NetSol Technologies (NTWK - Get Report) stock is up by 33.44% to $8.54 on heavy trading volume on Monday, after the company announced that it signed a $100 million contract to implement its NFS Ascent product.

The information technology company, which provides a variety of financial service applications, said the agreement included license, maintenance, services and expected customization of its product.

"This is a transformative agreement for NetSol, representing the largest contract in the company's history, and a strong endorsement for NFS Ascent from a nearly two-decade-long partnership with our client," NetSol CEO Najeeb Ghauri said in a statement. "The significant investments we made in our infrastructure and staffing are paying off and building leverage into our business."

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NetSol is keeping the name of the company that signed the agreement confidential.

So far today, 2.02 million shares of...