Stock Report

Project award for Valiant Cyber Security solutions by ONGC

Posted On : 2024-06-19 20:58:20( TIMEZONE : IST )

Valiant Communications Limited announces the receipt of an order for its "beyond the firewall" Cyber Security Defence strategy solutions for deployment in the network of the Oil & Natural Gas Corporation (ONGC), a Government of India Enterprise.

ONGC is the largest crude oil and natural gas company in India. Since ONGC forms a part of the Critical Information Infrastructure (CII) in India, it is of utmost importance that its digital asset base is protected from cyber threats, network intrusions and ransomware attacks.

The selected products from Valiant's Cyber Security Defence strategy solutions shall include equipment that is designed and based on the guidelines of the Government of India on cyber security. The need to detect and act‐upon intrusions that result from firewall breaches, or from the presence of trojans which can be planted or inadvertently introduced from within, assist in detecting unlawful and unwarranted activities that may already be taking place within the network, which could potentially open holes for back‐door entry from within the existing firewalls, resulting in a cyber‐attack or ransomware attacks. The selected products also assist in creating "hard" isolation zones and create secure perimeters within the IT and OT Systems, in case of cyber‐attacks or hostile network intrusions are detected.

The offered solution not only provides seamless scalability, but it is also infrastructure neutral and transparent to existing firewalls, networks and network applications.

The use of this solution becomes critical to any organization, by providing "Early Warning and Response Systems" behind the firewalls detection of cyber security incidents and helping mitigation of such cyber threats, safeguarding IT systems using early cyber‐attack warning and intrusion detection algorithms with suitable audio‐visual alerting mechanisms by detecting cyber‐attacks on SCADA and ICS systems and it plays an important role of strengthening the cyber security systems of an organization.

The need for implementing an effective cyber security and counter‐defence strategy becomes an utmost important aspect of protecting our critical infrastructure such as the Power Transmission and Distribution Networks, Oil & Gas assets, including its Onshore and Off‐shore Operations, as well other distributed infrastructure to ensure resilience, reliability and security of operations. Firewalls alone cannot form the centrepiece of the cyber‐security strategy as firewall can be breached not only from outside but (more often) from the inside by trojans, viruses or malware which may have been planted or inadvertently introduced these from within, in the most vulnerable parts of the network.

The artificial, soft air‐gap created between IT and OT Systems by deploying only firewalls between any IT and OT System can be easily circumvented by any insider or any outsider, by inadvertently planting or activating a dormant trojan inside the network, behind the firewall. In short, having only firewalls as a tool to address a cyber‐security defence strategy remains a myth, unless "hard" isolation zones and secure perimeters within the IT and OT Systems can be automatically created, in case cyber‐attacks or hostile network intrusions are detected.

Commenting on award of the project, Mr. Inder Mohan Sood, CEO said "We are very happy with the opportunity to deploy our advanced Cyber Security Suite in the Oil & Natural Gas Corporation network. While various initiatives taken by the Government of India, under the leadership of our Hon'ble Prime Minister, such as "Aatamnirbhar Bharat", "Make in India", "Digital India" and "PMA Policy", the initiatives taken by the Government of India are helping domestic manufacturers of cyber security equipment in India and securing Critical Information Infrastructure (CII) in India. This support is further helping us to take these unique and advanced cyber security solutions to the world".

Shares of VALIANT COMMUNICATIONS LTD. was last trading in BSE at Rs. 600.25 as compared to the previous close of Rs. 588.50. The total number of shares traded during the day was 4245 in over 55 trades.

The stock hit an intraday high of Rs. 600.25 and intraday low of 589.00. The net turnover during the day was Rs. 2541459.00.