Dynacons Systems & Solutions Secures Order from NABARD; Shares Rally Over 15% Today
The shares of the company have rallied over 15% with a significant surge in volumes, which are now over 2.82 times higher, and are currently trading at all-time high levels.
Dynacons Systems & Solutions, which provides IT infrastructure-related activities, has announced significant orders received by the company.
Order Details
Dynacons Systems & Solutions, a leading technology solutions provider, has announced that the company has secured a significant contract worth Rs 233 crores (including taxes) from the National Bank for Agriculture and Rural Development (NABARD).
The project involves the upgradation and migration of Core Banking Solution (CBS) from Finacle 7.0 to Finacle Application Model e 10.2.25. It also includes a service operation provider on the (ASP) deploying a comprehensive suite of services. These services encompass implementation, ongoing support, core banking consultancy, customization, solution upgrades, migration, and maintenance. Additionally, it involves infrastructure and network enhancements from leading technology vendors such as HPE, Oracle, Fortinet, Array, and Versa.
The scope of work includes serving 1391 branches of 38 State Coop Banks across 8 states. The contract is structured on an Operating Expense (OPEX) recurring revenue basis, ensuring streams throughout the agreement. The project is expected to be completed in 5 years.
Share Performance
Today, the company’s shares commenced trading at Rs 929.70 per share, which is lower compared to the preceding day’s closing figure of Rs 944.50 per share. During the intraday trading session, the stock reached highs and lows of Rs 1123.90 and Rs 929.15 respectively. Currently, the company’s shares are trading at Rs 1099.85 per share representing a gain of around 16% on the BSE.
The market capitalisation of the company stands at Rs 1398 crore. Additionally, the stock has delivered an impressive return of around 197% in the past year.
In terms of ownership, promoters hold 61.10%, while public investors hold 38.90%, as per the recent update.
Investors must keep this stock on their radar.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.