Dynacons Systems & Solutions zooms on securing contract worth Rs 233 crore from NABARD
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Dynacons Systems & Solutions is currently trading at Rs. 1114.85, up by 170.35 points or 18.04% from its previous closing of Rs. 944.50 on the BSE.
The scrip opened at Rs. 929.70 and has touched a high and low of Rs. 1123.90 and Rs. 929.15 respectively. So far 40123 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1,123.90 on 16-Apr-2024 and a 52 week low of Rs. 356.50 on 18-Apr-2023.
Last one week high and low of the scrip stood at Rs. 1123.90 and Rs. 922.05 respectively. The current market cap of the company is Rs. 1418.53 crore.
The promoters holding in the company stood at 61.10%, while Non-Institutions held 38.90% stake in the company.
Dynacons Systems & Solutions has secured a significant contract worth Rs 233 crore (all inclusive) from the National Bank for Agriculture and Rural Development (NABARD). 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 Coop Banks across 8 states. This project further underscores NABARD's commitment to embracing cutting-edge solutions to enhance operational efficiency and deliver superior banking services.
Under the terms of the contract, the company will deploy its comprehensive suite of services, encompassing consultancy, implementation, customization, and ongoing support. Leveraging its domain knowledge and technical expertise, the company aims to minimize disruptions to banking operations while maximizing the benefits of the new Finacle platform.
The project scope includes Core Banking Solution upgrade, migration, and maintenance, alongside infrastructure and network enhancements from leading technology vendors such as HPE, Oracle, Fortinet, Array, and Versa. Furthermore, this contract is structured on an Operating Expense (OPEX) basis, ensuring recurring revenue streams throughout the duration of the agreement. This model not only provides financial predictability for both parties but also aligns incentives for ongoing support and innovation, fostering a mutually beneficial partnership for sustained success.
Dynacons Systems & Solutions is an IT company with global perspectives.
