Dynacons Secures Rs 51.28 Crore additional Orders

Dynacons Systems & Solutions Ltd (Dynacons), a prominent technology solutions provider in India, is pleased to announce that it has received additional orders valued at Rs 51.28 crore (all inclusive) from the State and District Co-operative Banks which are under the aegis of NABARD. This contract builds on Dynacons' successful collaboration with NABARD and covers the Advanced Core Banking as a Service Solution and other Allied Applications based on Infosys Finacle 10.2.25, utilizing the Application Service Provider (ASP) model.

NABARD, as a mentor and facilitator for implementing core banking solutions to facilitate optimal technology use in rural financial sector, had brought rural cooperative banks under a common technology platform in order to make the credit delivery system faster and easier as also to incubate financial inclusion initiatives.

The proposed solution CBS (Finacle 10.2.25) will be implemented on Dynacons Cloud, which includes the deployment of hardware, database, middleware, network components, project management, third-party utilities, and a comprehensive testing phase. The project will be for a Five year duration and also includes extensive maintenance support with dedicated onsite skilled resources and adherence to stringent SLAs.

The present orders also include the order from the Himachal Pradesh State Cooperative Bank Ltd. with its Head Office at Shimla. The present order covers the implementation of Core Banking as a Service Solution across the network of 262 branches & 10 admin offices.

Shares of Dynacons Systems & Solutions Limited was last trading in BSE at Rs. 975.75 as compared to the previous close of Rs. 968.15. The total number of shares traded during the day was 2895 in over 379 trades.

The stock hit an intraday high of Rs. 998.75 and intraday low of 970.00. The net turnover during the day was Rs. 2838298.00.

Source : Equity Bulls

Keywords

DynaconsSystemsandSolutions INE417B01040 OrderWin