Shares of Magellanic Cloud Ltd surged by 3% after the company announced a significant order win. The tech-driven company has received a purchase order worth ₹40 crore from a customer for e-surveillance services, to be delivered over a span of five years.
This new order strengthens Magellanic Cloud’s position in the rapidly growing security and surveillance technology space. The company is expected to provide advanced e-surveillance solutions that could contribute to long-term revenue stability and profitability.
Importantly, the company clarified that the customer is not related to any promoter, promoter group, or group companies, ensuring transparency and governance standards. The contract does not fall under related party transactions, further reassuring investors.
Magellanic Cloud shares opened at ₹75.49, reaching a high of ₹79.00 and a low of ₹75.07 today. The stock is nearing its 52-week high of ₹80.00, indicating strong investor interest. With a 52-week low of ₹42.49, it has shown significant growth.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
