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Allied Digital Services skyrockets 15% after large order win; know more
Source: Business Standard
Allied Digital Services stock price skyrocketed after the company won an order worth Rs 430 crore for ‘Pune Safe City Project’. Allied Digital Services share price surged 15.17 per cent at Rs 282 per share on the BSE in Tuesday’s intraday trade.
At 1:31 PM, the stock price of the company was trading 12.91 per cent at Rs 276.45 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.61 per cent to 81,547.60 level.
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The ‘Pune Safe City Project’ will see Allied Digital design, architect, integrate, implement, and customise 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 strategic locations throughout Pune city, significantly elevating the city’s surveillance capabilities.
“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 over 14 cities,” said Nitin D Shah, CMD – Allied Digital
The company has a total market capitalization of Rs 1,546.29 crore. Its shares are trading at price to earnings valuation of 61.61 times with an earning per share of Rs 3.97.
The firm’s share price has outperformed the market as it surged 102.5 per cent year to date, while gaining 118.5 per cent in the last one year. In comparison BSE Sensex has risen 12.6 per cent year to date and 23.4 per cent in a year.
Allied Digital Services Ltd reported a revenue increase of 6.5 per cent year-over-year, reaching Rs 180.14 crore in Q1FY25. On a quarterly basis, revenue rose by 1.83 per cent compared to the previous three months.
Net profit also saw a year-over-year increase of 21.19 per cent, totaling Rs 10.41 crore in Q1FY25. However, on a quarterly basis, net profit decreased by 26.22 per cent over the last three months.
Allied Digital Services offers a wide range of comprehensive digital solutions, including cloud enablement, cybersecurity, software services, workplace management, infrastructure management, and digital engineering services.
First Published: Oct 08 2024 | 1:37 PM IST
