Small Cap IT Stock Hits 52-Week High On Bagging Project In Ram Janmabhoomi Ayodhya

Shares of small-cap IT stock Allied Digital Services Ltd (ADSL) traded at a new 52-week high level of 196.05 in the intraday trading on Friday (January 12). At 11:34 am IST today, the stock of Allied Digital Services was up 11.76% at Rs 191.00 per share on BSE. The sudden surge in shares of the IT stock was seen after the company informed that it had won a CCTV surveillance project in Ayodhya. Following this announcement, Allied Digital shares were locked in a 20% upper circuit limit of Rs 170.90 apiece on Thursday.

Allied Digital Services Limited, a leading Global IT Services and Solutions Provider has been picked as a Master System Integrator (MSI) for the Integration of CCTV Surveillance with the Existing ITMS Control Room for the Ayodhya Smart City Project, the company said in an exchange filing on Thursday.

According to the company, the project entails the establishment of a multi-location CCTV surveillance system. The capital expenditure (CAPEX) and implementation phase are anticipated to last three months, followed by a five-year operational and maintenance (O&M) phase.

Allied Digital Services said that the Video Management System (VMS) will play a key role in handling live feeds, while recorded footage will be securely stored on local storage. The primary goals include enhancing safety and security, optimizing city administration efficiency, and promoting an improved quality of life for residents even as Ayodhya City is undergoing unprecedented transformation.

The Nagar Nigam of Ayodhya also seeks to integrate the city's present CCTV surveillance camera network into a unified system.

Commenting on the order win, Nitin D Shah, CMD - Allied Digital, said,"The selection of Allied Digital as the Master System Integrator for this prestigious project in the rapidly transformed city of Ayodhya has further strengthened our leadership position in this space. We will be delivering mission-critical systems as the Command-and-Control Centre being set up will serve as the cockpit for oversight of the entire city-wide surveillance system."

Allied Digital Services stock price performance:

In the last six months, shares of Allied Digital Services have gained 58.14%. The stock has advanced 46.49% in the last three months. The last one year, 2-year and 3-year returns from the stock have increased 113%, 20%, and 333% respectively.

About Allied Digital Services Limited

HQ in Mumbai Allied Digital Services Limited is a renowned name in Information Technology consulting and services, since 1984. The company is a Global managed service provider and Master Systems Integrator, offering infrastructure solutions and services to clients in 70-plus countries. The service portfolio ranges from cloud enablement, cyber security, integrated solutions, infrastructure management, software services, and workplace services.

Allied Digital Services claims to be the first Indian company to have executed a Smart City Project with its Pune City Surveillance project delivery in 2015. The company has a global workforce of 3,000 plus professionals, local support functions, and governance frameworks, and offers its expertise and services to several Fortune 500 companies.