Dynacons Systems stock rallies 10%; bags contract from NABARD

Madhu Balaji Updated - April 16, 2024 at 12:28 PM.

The project includes consultancy, implementation, customization, and ongoing support, operating on an OPEX model

Dynacons Systems & Solutions Ltd has secured a five-year contract from National Bank for Agriculture and Rural Development (NABARD) for ₹233 crore.

As per the stock exchange filing, the project involves 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., deployment of services, encompassing consultancy, implementation, customisation, and ongoing support and CBS upgrade, migration, and maintenance, alongside infrastructure and network enhancements from technology vendors such as HPE, Oracle, Fortinet, Array, and Versa.

The contract is structured on an operating expense (OPEX) basis.

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Dynacons Systems & Solutions stock rallied 10.25 per cent to trade at ₹1,040 as of 12.08 pm on Tuesday.

Published on April 16, 2024 06:58
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