Dynacons Systems gets Rs 143-cr order from Bank of Maharashtra; stock up 4%

Dynacons Systems shares soar: Shares of Dynacons Systems surged as much as 4.12 per cent to hit an intraday high of Rs 1,589.95 per share on Monday, September 2, 2024. 

The rise in Dynacons Systems share price came after the company announced that it has bagged an order worth Rs 142.55 crore from Bank of Maharashtra. 

In an exchange filing, the company said, “Dynacons Systems & Solutions Ltd. (Dynacons) is proud to announce that it has been awarded a significant contract worth Rs 142.55 crore by Bank of Maharashtra.”

The contract includes the design, deployment and management of a cutting-edge Hyper-Converged Infrastructure (HCI) system for the Private Cloud of the Bank. 

Under the terms of order, the company will be responsible for supply, installation and maintenance of Hyper Converged Infrastructure (HCI) server and storage equipment at Bank's Data Center (DC), Near DR (NDR) and Disaster Recovery Site (DR); establishing the private cloud to accommodate new application requirements as well as existing application growth; and Implementation & maintenance with 5 years of support.

“This strategic partnership underscores the bank’s commitment to digital transformation, secure banking operations, and robust data management. These will be deployed at the Data Centre, Disaster Recovery Centre and the Near DR of the Bank,” Dynacons Systems said,

The project is expected to be completed in 5 years, the company added.

“We are honoured to have been selected by Bank of Maharashtra for this pivotal project. This win reflects our expertise in delivering secure, scalable, and highly efficient cloud and data centre solutions. We look forward to a successful implementation that will drive innovation, operational excellence, and robust secured data management for the bank. This Win further strengthens our position in the BFSI Segment as a strong Data Center and Cloud Solutions and Services provider,” said Parag Dalal, executive director of Dynacons Systems.

Dynacons Systems & Solutions is among the leading IT companies headquartered in Mumbai with a robust presence throughout India. 

Specialising in IT infrastructure, Dynacons offers a comprehensive range of services including infrastructure design, consulting, turnkey systems integration, and the establishment of extensive Network and Data Centre infrastructures. The company’s expertise extends to Hyper-Converged Infrastructure (HCI) solutions, Private and Public Cloud setup, Software Defined Networking (SD-WAN), Software Defined Storage (SDS), and VDI Solutions. They also provide onsite and remote facilities management for multi-location infrastructure.

Dynacons claims to have developed a strong customer base supported by a diverse and skilled team, backed by a capable service delivery infrastructure. The company offers various service models, including IaaS (Infrastructure as a Service), PaaS (Platform as a Service), and SaaS (Software as a Service).

With extensive domain knowledge across multiple industry sectors and proficiency in both traditional and cutting-edge technologies, Dynacons delivers end-to-end technology solutions and related services to corporations across diverse industries. Their large pool of technical resources is strategically located at over 250 sites across India.

At 12:08 PM, shares of Dynacons Systems were trading 0.59 per cent higher at Rs 1,535.90 per share. In comparison, BSE Sensex was trading 0.30 per cent higher at 82,613.75 levels.