Dynacons Systems shares rise 20% on order win from NPCI

Shares of Dynacons Systems & Solutions Ltd closed nearly 20% higher on Wednesday after the IT services provider said it has been awarded a significant contract worth Rs 41.72 crore by the National Payments Corporation of India (NPCI) for a Data Centre Tech Refresh initiative. Dynacons Systems shares closed 19.70% higher at Rs 936.55 on BSE. Market cap of the firm rose to Rs 1,188.77 crore. 

The project involves deployment of HPE Enterprise Servers with seven years backline comprehensive support & committed uptime. The project is to be executed in seven years.

The IT stock has gained 199% in a year and risen 46% since the beginning of this year. Market cap of the firm rose to Rs 1,188.77 crore. Dynacons Systems stock opened higher at Rs 786.40 on BSE. Total 0.35 lakh shares of the IT services firm changed hands amounting to a turnover of Rs 3.22 crore on BSE.

In terms of technicals, the relative strength index (RSI) of Dynacons Systems stands at 47.7, indicating the stock is trading neither in the overbought nor in the oversold zone. Dynacons Systems stock stands higher than the 5 day. 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.

The stock has a one-year beta of 0.3, indicating low volatility during the period.

Amit Vora, National Business Head of the company said, “Dynacons is honoured to have been awarded this contract. With this contract win, our company further solidifies its position as a trusted partner for businesses seeking reliable, cutting-edge technology solutions. We are excited about the opportunity to support our clients' growth and success. We look forward to leveraging our expertise and resources to drive success for our clients and help them achieve their business objectives." 

Dynacons is engaged in 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.