Shares of Dynacons Systems & Solutions were locked in an upper circuit of 5% at Rs 289.15 after the company said that it has bagged an order from Life Insurance Corporation of India for workplace solutions.
Life Insurance Corporation of India is one of the oldest & largest Life Insurance Company in India. LIC of India has 5 Zonal offices, 117 Divisional offices, 2048 Branch offices & 2900+ other offices. Life Insurance Corporation of India is looking to refresh their IT Assets with buyback option of existing Assets.The order is received for the supply, installation and support of IT infrastructure for their offices or branches all over India. The overall value of the order for all the zones to Dynacons stood at Rs 105 crore.
Dynacons Systems & Solutions is a 25 years old IT company with global perspectives with its headquarters at Mumbai and branches all over India. Its current market capitalisation is Rs 326.11 crore.
On a consolidated basis, net profit of Dynacons Systems & Solutions rose 39.8% to Rs 4.53 crore on 9.2% rise in net sales to Rs 159.68 crore in Q1 FY23 over Q1 FY22.
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