Allied Digital shares hit upper circuit after firm selected as Master System Integrator for Ayodhya Smart City Project

Shares of Allied Digital Services Ltd hit their 52-week high today after the IT services provider said it has been selected as a Master System Integrator (MSI) for the integration of CCTV surveillance with existing ITMS control room for the Ayodhya Smart City Project. Allied Digital Services shares zoomed 20% to hit a high of Rs 170.90 against the previous close of Rs 142.45 on BSE. Market cap of Allied Digital Services rose to Rs 943.83 crore on BSE. Earlier, the stock opened higher at Rs 143.70 on BSE. The stock has gained 87.94 percent in a year and risen 57.51 percent in six months. Total 6.62 lakh Allied Digital Services shares changed hands amounting to a turnover of Rs 10.70 crore on BSE.

In terms of technicals, the relative strength index (RSI) of the stock stands at 61, signaling the stock is trading neither in the overbought nor in the oversold zone. Shares of Allied Digital Services are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  

Allied Digital Services shares have a one-year beta of 0.6, indicating low volatility during the period. The project constitutes the establishment of a multi-location CCTV surveillance system. The capital expenditure (CAPEX) and implementation phase is expected to last three months, followed by a five-year operational and maintenance (O&M) phase.

The Video Management System (VMS) will play a key role in handling live feeds, while recorded footage will be securely stored on local storage. The primary goals include enhancing safety and security, optimising city administration efficiency and promoting an improved quality of life for residents even as Ayodhya City is undergoing unprecedented transformation.

Commenting on the order win, Nitin D Shah, CMD – Allied Digital, said, “The selection of Allied Digital as the Master System Integrator for this prestigious project in the rapidly transformed city of Ayodhya has further strengthened our leadership position in this space. We will be delivering mission critical systems as the Command-and-Control Centre being set up will serve as the cockpit for oversight of the entire city-wide surveillance system. The deployment of cutting-edge solutions that enhance safety, security and the overall quality of life will serve as a perfect blend of the ancient and modern given the rich history and deep cultural significance of this prestigious city."

Allied Digital Services is a 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.

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