Dynacons share price

Dynacons Systems Shares Surge After Securing Major Order from Bank of Maharashtra

Dynacons Systems & Solutions Ltd. experienced a notable rise in its share price following the announcement of a significant contract win. The company has secured a Rs 142.55 crore order from Bank of Maharashtra, driving its stock up by as much as 4.12% during intraday trading on Monday, September 2, 2024. This strategic partnership marks a key milestone in Dynacons’ continued expansion within the banking and financial services sector.

Key Highlights of the Contract

Dynacons Systems announced that it has been awarded a comprehensive contract by Bank of Maharashtra. The contract, valued at Rs 142.55 crore, involves the design, deployment, and management of a state-of-the-art Hyper-Converged Infrastructure (HCI) system for the bank’s Private Cloud.

Under the terms of the contract, Dynacons will be responsible for:

Supply, Installation, and Maintenance: The company will provide and maintain HCI server and storage equipment at Bank of Maharashtra’s Data Center (DC), Near DR (NDR), and Disaster Recovery Site (DR).
Establishing a Private Cloud: The project includes setting up a private cloud to support new application requirements and the growth of existing applications.
Five-Year Support: Dynacons will offer implementation and ongoing maintenance with five years of comprehensive support.

This partnership highlights Bank of Maharashtra’s commitment to digital transformation, enhanced security, and efficient data management.

Statements from Dynacons Systems

In an official statement, Parag Dalal, Executive Director of Dynacons Systems, expressed the company’s pride in being selected for this pivotal project. He emphasized that the contract win reflects Dynacons’ expertise in delivering secure, scalable, and highly efficient cloud and data center solutions.

“We are honored to have been chosen by Bank of Maharashtra for this significant project. This achievement further solidifies our position in the BFSI segment as a leading provider of Data Center and Cloud Solutions. We look forward to driving innovation and operational excellence for the bank through this strategic partnership,” Dalal stated.

About Dynacons Systems & Solutions

Headquartered in Mumbai, Dynacons Systems & Solutions Ltd. is a prominent player in the IT industry, with a strong presence across India. The company specializes in IT infrastructure services, offering a comprehensive suite of solutions, including:

Infrastructure Design and Consulting
Turnkey Systems Integration
Network and Data Center Infrastructure
Hyper-Converged Infrastructure (HCI) Solutions
Private and Public Cloud Setup
Software Defined Networking (SD-WAN)
Software Defined Storage (SDS)
VDI Solutions

Dynacons also provides onsite and remote facilities management services for multi-location infrastructure, catering to a diverse customer base supported by a skilled team and a robust service delivery infrastructure.

The company offers various service models, including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS), and is recognized for its expertise in both traditional and cutting-edge technologies. With extensive domain knowledge across multiple industries, Dynacons delivers end-to-end technology solutions to corporations nationwide.

Market Performance

At 12:08 PM on September 2, 2024, shares of Dynacons Systems were trading 0.59% higher at Rs 1,535.90 per share, reflecting the positive market sentiment following the contract announcement. In comparison, the BSE Sensex was trading 0.30% higher at 82,613.75 levels.

Conclusion:

The recent contract win with Bank of Maharashtra is a significant achievement for Dynacons Systems & Solutions Ltd., reinforcing its position as a leader in IT infrastructure services. As the company continues to expand its portfolio and enhance its offerings, investors can expect further growth and value creation in the coming years.

FAQs:

1.What is the value of the contract secured by Dynacons Systems?

A. Dynacons Systems secured a contract worth Rs 142.55 crore from Bank of Maharashtra.

2.What services will Dynacons provide under this contract?

A. Dynacons will design, deploy, and manage a Hyper-Converged Infrastructure system, including the supply, installation, and maintenance of related equipment, and provide five years of support.

3.Which locations will be covered under this project?

A. The project will cover Bank of Maharashtra’s Data Center (DC), Near Disaster Recovery (NDR), and Disaster Recovery Site (DR).

4.How did Dynacons Systems’ stock react to the news?

A. The stock surged by 4.12%, reaching an intraday high of Rs 1,589.95.

5.What is Dynacons Systems’ area of specialization?

A. Dynacons specializes in IT infrastructure services, including Hyper-Converged Infrastructure solutions, Cloud setup, SD-WAN, SDS, and VDI solutions.