Dynacons Systems & Solutions, an Indian-based IT company, experienced a substantial surge in its share value in recent trading sessions, driven by heightened investor sentiment following the company’s acquisition of a significant order.
Between March 27 and April 19, the shares underwent a remarkable surge, escalating from ₹782.40 apiece to ₹1435.7, marking a remarkable rally of 83.50% within just 15 trading sessions. This surge has propelled the stock to achieve an impressive rally of 340% in just one year.
On April 16, the company announced a substantial order valued at ₹233 crore from NABARD for Core Banking Solution Upgradation & Migration on the ASP model. In March, it secured an order worth ₹41.72 crore from the National Payments Corporation of India (NPCI) for the installation and maintenance of HPE Enterprise Servers, inclusive of seven years’ backline comprehensive support and committed uptime.
Additionally, in February, the company acquired an order worth ₹90.02 crore from BSNL for providing integrated telecom network & IT solutions, including a command centre and network operations centre, for its premier customer.
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In January, it secured a 214-crore order from Union Bank of India for hyper-converged infrastructure and software solutions. Furthermore, another notable project worth ₹137 crore was awarded from Bharat Heavy Electricals.
Meanwhile, long-term investors have reaped substantial returns as the share price has surged from its value of ₹17.75 apiece in April 2020 to the current market price of ₹1377, delivering an impressive return of nearly 7657%.
Dynacons Systems & Solutions, a 27-year-old IT company headquartered in Mumbai, operates globally and specialises in all aspects of IT infrastructure. It offers various service models, including IaaS (Infrastructure as a Service), PaaS (Platform as a Service), and SaaS (Software as a Service).
With the increasing prevalence of Internet of Things (IoT) devices and advancements in computing power and AI-driven technologies, the company is poised for significant growth in edge computing.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
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Published: 22 Apr 2024, 11:00 AM IST