Shares of Dynacons Systems & Solutions shot up sharply on Wednesday after the company announced bagging the major order.
What Happened: The Mumbai-based IT firm secured a high-value contract from Bharat Heavy Electricals Ltd. (BHEL). The project mandates Dynacons to provide a high-performance digital workplace solution, encompassing desktops, workstations, LED projectors, and UPS, for BHEL’s offices and factories across the country.
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The contract, valued at ₹137 crore (excluding GST), will see execution over five years. Dynacons expects its comprehensive range of devices and services to bolster BHEL’s device management, security, upkeep, and technical support functions, thereby propelling operational efficiency, as added in the press release.
The announcement provided a massive boost to the stock that was trading flat on Wednesday. Shares of the company shot up over 7% to hit an intraday high of ₹689 as soon as the innocent was made at around 10:50 am. With a market cap of around ₹850 crore, the micro-cap stock has surged up around 80% in the past year.
Price Action: Shares of Dynacons Systems & Solutions were trading 4.73% higher at ₹672 on Wednesday.
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