Dynacons Systems & Solutions Share Price Soars 83% in 15 Sessions, Surges 340% in a Year

Tanushree Jaiswal Tanushree Jaiswal 22nd April 2024 - 03:04 pm
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Dynacons Systems & Solutions, an Indian-based IT company, experienced a substantial surge in its share value with shares rising 83.50% in 15 trading sessions and 340% in one year, driven by heightened investor sentiment following the company's acquisition of a significant order. Over the last four years, they have delivered a return of over 7650%.

On April 16, the company announced a major order valued at ₹233 crore from NABARD - National Bank for Agriculture and Rural Development. This monumental contract encompasses the upgradation and migration of Core Banking Solution (CBS) from Finacle 7.0 to Finacle 10.2.25, operating on the Application Service Provider (ASP) model. The scope of the contract includes serving 1391 branches of 38 State Co-Op Banks across 8 states.

Under the terms of the contract, Dynacons System & Solutions will deploy its comprehensive suite of services, encompassing consultancy, implementation, customization, and ongoing support. Leveraging its domain knowledge and technical expertise, Dynacons aims to minimize disruptions to banking operations while maximizing the benefits of the new Finacle platform. The contract spans over 5 years, with ongoing maintenance support provided to NABARD and associated state cooperative banks, featuring onsite skilled resources and committed Service Level Agreements (SLAs). 

Mr. Parag J Dalal, Executive Director of Dynacons Systems & Solutions Limited, commented, "We are delighted to collaborate with NABARD in this transformative journey towards digital modernization. This contract win is a testament to Dynacons' capabilities in delivering innovative technology solutions tailored to the unique requirements of our clients. We are fully committed to leveraging our expertise to ensure the seamless upgradation and migration of Core Banking Solution, enabling NABARD to achieve its strategic objectives efficiently. This win will help Dynacons to become one of the leading player as a Systems Integrator in BFSI segment,” added Mr. Dalal.

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 of back-line comprehensive support and committed up-time.

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 customers. 

In January, it secured a ₹214 crore order from Union Bank of India for hyper-converged infrastructure and software solutions. Additionally, another notable project worth ₹137 crore was awarded from Bharat Heavy Electricals (BHEL).

Long-term investors have been reaping substantial returns as the share price has surged from its value of ₹17.75 per share in April 2020 to the current market price of ₹1377, delivering an impressive return of nearly 7657%.

Dynacons Systems & Solutions Ltd. is a 28 years old IT company with global perspectives with its headquarters at Mumbai and branches all over India. The Company has a large pool of technical resources that are present at more than 250 locations across India. The Company has all the Industry leading certifications such as CMMI Level 5, ISO 9001, ISO 20000, ISO 27000 among others.

Dynacons undertakes all activities related to IT infrastructure including infrastructure design and consulting services, turnkey systems integration and set up of large Network and Data Centre infrastructures including supply of associated equipment and software.

Dynacons also provides all service models such as 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 computing in the future.

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