Magellanic Cloud shares surged 17% today to hit a new 52-week high of ₹97.78. The stock opened at ₹81.60 and touched an intraday low of ₹81.09 before gaining momentum. The rally came amid heavy trading volumes.
As of the time of writing, trading volume had crossed 4,48,55,839 shares, indicating heavy participation from market players. The sharp rally comes without any fresh corporate announcement, suggesting speculative buying or optimism around the stock’s recent performance. The stock has more than doubled from its 52-week low of ₹42.49, underscoring the strong upward trend.
In the meantime, on June 26, Magellanic Cloud announced that its wholly owned arm, Provigil Surveillance, has secured a major order worth ₹7.5 crore annually, totalling ₹22.5 crore over three years. The contract involves deploying eSurveillance systems across nearly 1,300 sites, reinforcing Provigil’s leadership in security tech. The company confirmed the order is not linked to the promoter group, ensuring regulatory compliance and transparency.
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