Allied Digital Services stock gains 10% after winning a six-year contract worth Rs650cr

The company has a very strong presence in the global automotive sector, driving IT operations transformation.

Aug 26, 2021 12:08 IST India Infoline News Service

Allied Digital Services
Allied Digital Services stock froze at the upper circuit on Thursday after the company won a six-year contract valued at $88M (Rs650cr) pure services business to transform the IT operating model and infrastructure landscape across workplace management, for a global automotive giant.

Nitin Shah, CMD Allied Digital said, we are happy to win our largest deal from the US market. It will put Allied Digital in the league of big players. Our direct presence in the USA, Canada, Japan, China, Brazil, UK, Singapore, Australia and EU has become an unmatched value for clients. Our workplace management tower is leveraging this global network to offer the best solutions in the industry”

As per the regulatory filing, the transformation will establish a fully scalable on-demand digital IT anytime-anywhere workplace and empower the end-customer to propel business growth. The company said that the "contract will span work in several countries. Apart from India, we would be managing this contract through our subsidiaries in the USA, Canada, Japan, China, Brazil, UK, Singapore, Australia and EU."

The company has a very strong presence in the global automotive sector, driving IT operations transformation. The automotive industry is at the crossroads of innovative trends and disruptive technologies. The broader influence of automotive technology will continue to drive disruption as the established automotive industry increasingly converges with a technology-reliant society.

Allied Digital has been at the forefront of this trend and is engaged to drive industry-specific IT transformation solutions.

At around 12.44 pm, Allied Digital was trading at Rs72.10 per piece up 9.66% on Sensex. The stock had touched an upper circuit of Rs72.30 per piece up 10% earlier today. 

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