Shares of Allied Digital Services Ltd rose over 17% in the afternoon session today after the IT-enabled services firm said it won a large order worth Rs 430 crore. Allied Digital Services shares rose 17.1% to Rs 288.70 against the previous close of Rs 244.85 on BSE. Market cap of the firm stood at Rs 1580.72 crore.
A total of 2.48 lakh shares of the firm changed hands amounting to a turnover of Rs 6.72 crore.
Allied Digital Services shares have delivered multibagger returns of 233.25% in three years and 2056% in five years.
In terms of technicals, the relative strength index (RSI) of Allied Digital Services stands at 39.6, signaling the stock is trading neither in the overbought nor in the oversold zone. Allied Digital Services shares stand higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
"It has been awarded the prestigious Pune Safe City Project. This significant project will see Allied Digital design, architect, integrate, implement, and customize a comprehensive set of solutions to enhance Pune's security infrastructure. The six-year contract, in collaboration with the Pune Police and the Government of Maharashtra, Home Department, will result in the deployment of more than 4,000 Artificial Intelligence (AI) enabled cameras across 1,400 plus strategic locations throughout Pune city, significantly elevating the city's surveillance capabilities," said Allied Digital Services.
Nitin D Shah, CMD – Allied Digital commented, "We are deeply honored to have been awarded the Pune Safe City Project, a city where our journey in the Smart Cities space began a decade ago. This contract further solidifies Allied Digital's position as a pioneer and leader in delivering transformative solutions for Smart & Safe Cities Management to 14+ cities. Our proven track record in Pune, including a remarkable 98-99% uptime for cameras in external environments over the past 36 quarters, demonstrates our commitment to excellence and sets a new benchmark for similar government projects. With this project, we will deploy state of the art mission critical AI enabled security infrastructure systems, to enhance the safety and security of Pune. We are proud to continue our partnership with the Government of Maharashtra & the Pune Police, driving innovation and strengthening our leadership in the safe city ecosystem."
The company is engaged in information technology consulting and services, since 1984. It is a Mumbai-based global managed service provider and Master Systems Integrator, offering infrastructure solutions and services to clients in 70-plus countries. The service portfolio ranges from cloud enablement, cyber security, integrated solutions, infrastructure management, software services, and workplace services.