Dynacons Systems & Solutions share price pops 5% on Rs 280 crore-deal win

The uptick in the Dynacons Systems & Solutions share came after the company announced that it has secured a Rs 280 crore project to upgrade the IT data centre infrastructure of Canara Bank

Dynacons Systems & Solutions share price: Dynacons Systems & Solutions shares rose as much as 5.43 per cent to hit an intraday high of Rs 1,449.10 per share on Wednesday, January 1, 2025.

 

The uptick in the Dynacons Systems & Solutions share came after the company announced that it has secured a Rs 280 crore project to upgrade the information technology (IT) data centre infrastructure of Canara Bank.

 

Spanning five years, the project involves the supply, implementation, and maintenance of advanced infrastructure, including 500 servers, high-performance storage systems, and a comprehensive suite of IT hardware and software, Dynacons Systems & Solutions said. Through this transformation, Dynacons aims to boost Canara Bank’s digital capabilities and ensure seamless, scalable operations.

 

Canara Bank, one of India's largest public sector banks owned by the Government of India, boasts a vast network of over 9,658 branches, 26 Circle Offices, and 177 Regional Offices across the country. The bank also extends its presence internationally with offices in London, Dubai, New York, and IBU Gift City.

 

Shirish M Anjaria, chairman cum managing director of Dynacons, said, “This win is a testament to our technological expertise, skilled workforce, and unwavering commitment to delivering best-in-class solutions in the BFSI sector. This order strengthens our position in the banking and financial services industry and sets the stage for future collaborations with other financial institutions. It’s a significant milestone and an exciting chapter in Dynacons’ journey.” 

 

Furthermore, the contract highlights several major aspects. The comprehensive implementation involves the deployment of advanced technologies, including Dell Technologies' servers and storage solutions, IBM WebSphere, Red Hat, Microsoft Windows & SQL, and JBoss Enterprise. This demonstrates Canara Bank's commitment to modernising its IT infrastructure with state-of-the-art tools and technologies. 

 

With an extensive network of branches across India and globally, Canara Bank is strengthening its digital and IT capabilities to position itself for a competitive future.

 

The agreement also underscores the importance of long-term support. Spanning five years, the contract includes implementation, maintenance, and 24/7/365 support with a 99.90 per cent uptime guarantee. 

 

From a technological perspective, the deployment is designed to deliver numerous benefits. These include faster scalability, improved performance, optimised infrastructure, and enhanced security measures. Furthermore, the architecture ensures compatibility with legacy applications, a critical requirement for a bank of this scale. By addressing these needs, the deployment reduces operational risks and supports the bank’s ambitious growth plans.

 

“This deployment will not only reinforce Canara Bank’s digital transformation but also positions Dynacons as a trusted partner for large-scale, mission-critical projects in the financial services domain,”  Anjaria added.

 

The market capitalisation of Dynacons Systems & Solutions is Rs 11,826.24 crore, according to BSE. The company falls under the BSE SmallCap category.

 

At 11:50 AM, Dynacons Systems & Solutions share was off day’s high and was trading 4.51 per cent higher at Rs 1,436.50 per share. In comparison, BSE Sensex was trading 0.37 per cent higher at 78,427.70 levels.