Magellanic Cloud | Business Upturn

Magellanic Cloud subsidiary secures Rs 3.44 crore contract with South Eastern Railway

Arunika Jain — Thu, 07 May 2026 13:55:04 +0000

Magellanic Cloud’s wholly owned subsidiary, Provigil Surveillance Limited, has received a Letter of Acceptance (LOA) from South Eastern Railway, Kharagpur Division, for a project valued at ₹3.44 crore. The contract involves the provision of CCTV systems and the modernisation of infrastructure at Kharagpur and PKU Goods Sheds.

The scope of the project includes the supply, installation, commissioning, and integration of AI-led CCTV surveillance systems, along with networking infrastructure and centralised monitoring systems. This initiative is part of a broader move towards digitally connected railway ecosystems, where AI-based e-surveillance plays a crucial role in enhancing transport security and operational intelligence.

Joseph Sudheer Reddy Thumma, Global CEO and Managing Director of Magellanic Cloud, highlighted the importance of AI-based e-surveillance in large, high-movement zones such as goods sheds and cargo handling points. These systems can monitor movement patterns, detect unauthorised access, identify operational anomalies, and improve incident response in real-time.

The project reflects the increasing convergence of physical infrastructure with intelligent AI-powered digital systems, designed to support large-scale operational environments. Magellanic Cloud is focused on strengthening its presence in AI-powered e-surveillance, centralised monitoring systems, and critical infrastructure technology solutions across sectors like transportation and logistics.

This order marks a strategic expansion of Provigil’s surveillance capabilities, leveraging its expertise in high-reliability deployments. The contract is expected to be executed over a period of 15 months. Importantly, none of the promoter or promoter group companies have any interest in the entity that awarded the contract, and it does not fall within the purview of related party transactions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud announces $11 million UAV joint venture to boost India’s defence sector

Kinjal — Wed, 29 Apr 2026 06:56:03 +0000

Magellanic Cloud Limited has announced a strategic joint venture worth approximately $11 million (~₹100 crore) aimed at manufacturing advanced Unmanned Aerial Vehicle (UAV) systems in India. This initiative aligns with the country’s Make in India vision for the defence sector.

The joint venture involves collaboration with Rayonix Tech, an India-based defence technology company, and XTEND, an Israel-based company specialising in AI-powered robotics, UAV, and software systems. This partnership marks a significant expansion for Magellanic Cloud within the burgeoning defence and security technology industry.

The venture will establish comprehensive manufacturing, testing, and distribution capabilities within India, focusing on meeting the evolving needs of armed forces and security agencies. The UAVs produced will support surveillance, reconnaissance, and other mission-critical operations.

XTEND’s XOS operating system will underpin the UAV systems, providing features such as human-guided autonomy, AI-driven navigation, mission planning, and real-time operational control across multi-domain robotic systems. Magellanic Cloud will serve as XTEND’s exclusive manufacturing and distribution partner in India for selected platforms, facilitating sovereign deployment under a unified software architecture.

The joint venture will cater to the growing demand for advanced UAV systems from India’s defence ecosystem. By leveraging XTEND’s autonomous operating systems and combining them with domestic manufacturing capabilities, the partnership aims to deliver mission-critical drone solutions tailored to Indian operational requirements.

Joseph Sudheer Thumma, Global CEO & MD of Magellanic Cloud, commented on the development, stating that the joint venture represents a defining moment in the company’s mission to revolutionise the defence ecosystem. He highlighted the integration of XTEND’s battle-proven platforms, including the XOS autonomy platform, which will enable seamless multi-platform force coordination and AI-assisted mission execution.

This collaboration strengthens Magellanic Cloud’s presence in drone technologies and intelligent infrastructure solutions, reinforcing its position as a technology-driven enterprise focused on high-growth sectors and future-ready technologies with national relevance.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud enters Rs 150 crore strategic agreement with Rayonix Tech

Business Desk — Tue, 28 Apr 2026 07:19:38 +0000

Magellanic Cloud Limited has announced a strategic investment and collaboration agreement with Rayonix Tech Private Limited, valued at up to ₹150 crore. The partnership aims to bolster India’s defence ecosystem by developing and supplying warfare-grade unmanned aerial vehicles (UAVs) and drones tailored to national security needs.

The agreement, dated 25 April 2026, focuses on local manufacturing, deployment, and scaling of next-generation UAV solutions. This initiative aligns with the Government of India’s Atmanirbhar Bharat vision, which seeks to enhance self-reliance in defence production. The collaboration is expected to significantly strengthen India’s indigenous defence manufacturing capabilities, providing access to advanced autonomous drone technologies for tactical operations, surveillance, reconnaissance, and security applications.

The terms of the agreement include the formation of a Special Purpose Vehicle (SPV) to facilitate the manufacturing and commercialisation of UAVs and drones in India. The partnership covers technology support, investment, and joint execution, aiming to enhance indigenous defence and security capabilities.

The agreement does not involve any change in management or control of Magellanic Cloud Limited. Additionally, there are no related party transactions, and none of the promoter or promoter group companies have any interest in the agreement.

The SPV will include board representation from both Magellanic Cloud and Rayonix Tech, ensuring a collaborative approach to the project’s execution. No potential conflicts of interest have been identified in this agreement.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud subsidiary secures Rs 8.21 crore order from North Western Railway

Yash Agarwal — Fri, 24 Apr 2026 11:27:32 +0000

Magellanic Cloud’s wholly owned subsidiary, Provigil Surveillance Limited, has received two significant orders from North Western Railway, Bikaner Division, amounting to approximately ₹8.21 crore. These orders involve the provision of comprehensive CCTV systems across various locations.

Provigil Surveillance Limited will supply, install, commission, and integrate CCTV cameras at all PRS and UTS cum PRS counters at 54 stations, covering 64 locations in the Bikaner Division. The contract for this project is valued at approximately ₹4.93 crore and is expected to be completed within nine months.

Additionally, the subsidiary will provide IP-based CCTV systems for remote surveillance of TRD installations, including Switching Posts, Sub Sectioning Posts, Traction Sub Stations, and Depots across the Bikaner Division. This project, valued at approximately ₹3.28 crore, includes the supply, installation, testing, commissioning, and integration of CCTV systems along with associated infrastructure such as NVRs, storage, networking equipment, UPS, and connectivity solutions. The execution period for this contract is six months.

These orders are part of ongoing contracts secured by Provigil Surveillance Limited, reflecting Magellanic Cloud‘s expanding footprint in the railway surveillance and security solutions sector. The repeat business highlights customer confidence in the company’s execution capabilities, further strengthening its consolidated order book and enhancing revenue visibility.

Magellanic Cloud has clarified that none of its promoters, promoter group, or group companies have any interest in the entity that awarded the orders. Furthermore, these contracts do not qualify as related party transactions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud discloses over 10 crore pledged shares in revised SEBI filing

Business Desk — Mon, 20 Apr 2026 13:06:23 +0000

Magellanic Cloud Limited has submitted a revised disclosure to the National Stock Exchange of India, highlighting that a total of 10,78,55,554 equity shares are pledged as of 31st March 2026. This revision follows a previous submission that contained a typographical error.

The revised disclosure, made under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirms that no new encumbrances have been created by the promoters or the promoter group during the financial year ending March 31, 2026. The company has ensured that all encumbrances have been duly reported to the stock exchanges in compliance with the applicable regulations.

The shareholding details of the promoters and promoter group as of 31st March 2026 are also provided in the filing. Joseph Sudheer Reddy Thumma, a promoter, holds 21,14,66,356 shares, representing a 35.899% stake in the company. Jagan Mohan Reddy Thumma, another promoter, holds 47,000,000 shares, accounting for 7.979% of the shareholding. Other members of the promoter group, including Innamma Thumma and Dennis Reddy Thumma, hold 25,292,980 shares (4.294%) and 34,141,740 shares (5.796%), respectively.

The filing was signed by Joseph Sudheer Reddy Thumma, a promoter of the company, and was submitted from Hyderabad on 20th April 2026.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud confirms non-applicability of SEBI circular for large corporate criteria

Kinjal — Mon, 20 Apr 2026 10:30:41 +0000

Magellanic Cloud Limited has announced that it does not fall under the criteria for being classified as a Large Corporate (LC) as per the guidelines outlined in the SEBI Circular dated 26 November 2018. This confirmation was made in a recent filing with the National Stock Exchange of India (NSE).

The SEBI Circular (SEBI/HO/DDHS/CIR/P/2018/144) sets forth specific criteria that determine whether a company qualifies as a Large Corporate. Magellanic Cloud has reviewed these criteria and confirmed that it does not meet the requirements to be classified as such.

The company has requested stakeholders to take note of this confirmation, ensuring clarity regarding its status in relation to the SEBI guidelines.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud reports 10.94 crore equity shares pledged by promoters

Yash Agarwal — Tue, 07 Apr 2026 12:29:22 +0000

Magellanic Cloud Limited has disclosed that its promoters and promoter group have pledged a total of 10,94,83,767 equity shares as of 31st March 2026. This information was revealed in a regulatory filing under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The filing confirmed that all encumbrances created by way of pledging equity shares have been duly disclosed to the stock exchanges during the financial year ended March 31, 2026. Additionally, the promoters assured that no new encumbrances were created during this period, apart from those already disclosed.

The shareholding details as of 31st March 2026 indicate that Joseph Sudheer Reddy Thumma, a promoter, holds 211,466,356 shares, accounting for 35.899% of the total shareholding. Jagan Mohan Reddy Thumma, another promoter, holds 47,000,000 shares, representing 7.979%. The promoter group members, including Innamma Thumma and Dennis Reddy Thumma, hold 25,292,980 shares (4.294%) and 34,141,740 shares (5.796%), respectively. Boyapati Inna Reddy, also part of the promoter group, holds 437,760 shares, which is 0.074% of the total shareholding.

The company has requested the stock exchanges to take note of this disclosure and acknowledge receipt.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud subsidiary secures Rs 7.88 crore contract with Indian Railways

Business Desk — Wed, 01 Apr 2026 08:32:21 +0000

Magellanic Cloud’s wholly owned subsidiary, Provigil Surveillance Limited, has secured a significant contract with South Central Railway, Vijayawada Division, valued at approximately ₹7.88 crore. The contract involves the provision of CCTV cameras at Goods Sheds across multiple railway stations.

Provigil Surveillance Limited received a Letter of Acceptance (LOA) from the Indian Railways for the project, which is to be executed within 365 days. The contract encompasses supply, installation, testing, commissioning, and integration of CCTV surveillance systems and associated S&T infrastructure.

The contract was awarded in the ordinary course of business and does not involve any related party transactions. Magellanic Cloud confirmed that none of its promoters or promoter group companies have any interest in the awarding entity.

This development underscores Magellanic Cloud’s continued expansion and involvement in critical infrastructure projects within India.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud secures Rs 2 crore contract from Central Railway

Arunika Jain — Wed, 25 Mar 2026 09:56:41 +0000

Magellanic Cloud Limited’s wholly owned subsidiary, Provigil Surveillance Limited, has received a Letter of Acceptance from Central Railway, Bhusawal Division, for a contract valued at approximately ₹2 crore. The contract involves the supply, installation, commissioning, and maintenance of CCTV cameras mounted on metallic poles, with video data stored in Network Video Recorders (NVRs) installed inside LC Gate buildings.

Each station and LC Gate will have independent equipment for control and monitoring, along with a centralised command and control centre at Bhusawal for monitoring and operation of the CCTV systems. The system will also be equipped with AI-based surveillance features to enable smarter monitoring and improved operational efficiency.

The contract has been awarded by a domestic entity, Central Railway, and is expected to be executed within a six-month timeframe. Importantly, none of the promoter or promoter group companies have any interest in the entity that awarded the contract, and the order does not fall under related party transactions.

Magellanic Cloud Limited, formerly known as South India Projects Limited, continues to expand its portfolio with this new contract, further establishing its presence in the surveillance and security sector.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud subsidiary secures Rs 10 crore order from Indian Bank

Business Desk — Wed, 25 Mar 2026 09:43:03 +0000

Magellanic Cloud’s wholly owned subsidiary, Provigil Surveillance Limited, has secured a significant purchase order from Indian Bank valued at approximately ₹10 crore. The order entails the deployment of advanced AI-powered, centrally monitored electronic surveillance systems across multiple branch locations under an OPEX model. This initiative is expected to enhance smart monitoring, real-time visibility, and security management across the bank’s network.

The contract, awarded by a domestic entity, involves the supply, installation, commissioning, and maintenance of the electronic surveillance systems. The project is scheduled to be executed over a period of three years.

Importantly, none of the promoter, promoter group, or group companies of Magellanic Cloud have any interest in the entity that awarded the contract, and the order does not fall within the realm of related party transactions.

This development underscores Magellanic Cloud’s strategic focus on leveraging technology to provide innovative solutions in the surveillance sector, further solidifying its position in the industry.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Magellanic Cloud secures Rs 25 crore order from Punjab & Sind Bank

Arunika Jain — Tue, 24 Mar 2026 11:47:50 +0000

Magellanic Cloud Limited’s wholly owned subsidiary, Provigil Surveillance Limited, has secured a notable purchase order exceeding ₹25 crore from Punjab & Sind Bank. This significant order involves the deployment of advanced AI-enabled surveillance solutions across approximately 930 ATM/CRM sites, enhancing real-time monitoring, threat detection, and operational efficiency within the bank’s network.

The order is a strategic milestone for Magellanic Cloud, reinforcing the company’s growth trajectory and enhancing its visibility in the order book. It positions the company strongly for continued expansion in the surveillance and smart infrastructure domain, particularly within the banking and financial services sector.

The contract, awarded by a domestic entity, involves end-to-end implementation, installation, commissioning, and maintenance of integrated e-surveillance systems under an OPEX model for a duration of five years. This development marks a key milestone in strengthening the group’s presence in the fast-growing surveillance and security solutions segment.

Notably, none of the promoter or promoter group companies have any interest in the entity that awarded the contract, and the order does not fall within the purview of related party transactions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Arunika Jain and reviewed by Aman Shukla before publication.

Magellanic Cloud secures Rs 39 crore order from multinational company

Arunika Jain — Fri, 20 Mar 2026 13:51:26 +0000

Magellanic Cloud Limited’s step-down subsidiary, Motivity Labs Inc. (USA), has secured significant purchase orders from a leading multinational company, with a combined contract value of approximately USD 4.70 million (around ₹39 crores). This strategic order win underscores the company’s strong positioning in the global technology and data engineering sector.

The scope of work for these contracts includes advanced data engineering, analytics, infrastructure support, and programme management services. These engagements are part of large-scale projects, reflecting the continued trust of global enterprises in Magellanic Cloud‘s capabilities and execution strength.

The orders are expected to be executed over the calendar year 2026, contributing significantly to the company’s revenue visibility and growth momentum. Magellanic Cloud continues to focus on expanding its global footprint and strengthening relationships with marquee clients, thereby enhancing long-term shareholder value.

Importantly, none of the promoter or promoter group companies have any interest in the entity that awarded the order, and the transaction does not fall under related party transactions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Arunika Jain and reviewed by Aman Shukla before publication.

Top stocks for trade today, March 5: GE Shipping, MRPL, Magellanic Cloud, Bharat Forge and more

Aman Shukla — Thu, 05 Mar 2026 02:39:44 +0000

Several companies are likely to remain in focus on March 5 following key corporate announcements, regulatory developments, and industry updates. Stocks across shipping, IT, infrastructure, finance, and manufacturing sectors may see investor attention during today’s trading session.

Below are the major stocks to watch today.

GE Shipping

The Great Eastern Shipping Company has contracted to purchase a second-hand Kamsarmax dry bulk carrier. The acquisition is expected to expand the company’s shipping fleet and may support its dry bulk segment operations.

Vakrangee

Vakrangee Limited has entered into a strategic alliance with Tyger Home Finance Private Limited. Under the partnership, Vakrangee will provide lead generation services for home loan products, potentially expanding financial service offerings through its retail network.

LTIMindtree

LTIMindtree Limited has been recognised by NelsonHall as a leader in GenAI and process automation solutions for the banking sector. The recognition highlights the company’s capabilities in digital transformation and AI-driven services.

Ramky Infrastructure

Ramky Infrastructure Limited has secured an Engineering, Procurement and Construction (EPC) order worth ₹1,402 crore from Maharashtra Industrial Township Limited.
The contract relates to infrastructure works at the Dighi Port Industrial Area in Maharashtra.

Magellanic Cloud

Magellanic Cloud Limited said one of its subsidiaries has received a Letter of Acceptance worth ₹6 crore from South East Central Railway for project-related work.

NCC

NCC Limited saw share purchases through bulk deals, with AVSR Holdings buying 1.17 lakh shares and Sirisha Projects acquiring 1.72 lakh shares.

BSE

BSE Limited has received approval from Securities and Exchange Board of India to launch derivatives on the Sensex Next 30 Index. The development could expand product offerings on the exchange.

Solara Active Pharma Sciences

Solara Active Pharma Sciences Limited announced that its Brazil-based subsidiary, which was non-operational, has been voluntarily deregistered.

Sundaram Fasteners

Sundaram Fasteners Limited saw HDFC Mutual Fund sell 2% stake via bulk deals worth approximately ₹358 crore.

PCBL

PCBL Limited said its board will meet on March 9 to consider amendments to the company’s debenture trust deed.

Gandhar Oil Refinery

Gandhar Oil Refinery (India) Limited has received a summons from the CGST authorities seeking transaction details. The company said no violations have been alleged so far.

UPL

UPL Limited has uploaded the official scheme of arrangement, along with a joint valuation report and fairness opinion, related to its ongoing restructuring.

Bharat Forge

Bharat Forge Limited has approved availing an unsecured rupee term loan worth ₹800 crore.

Hindustan Unilever

Hindustan Unilever Limited has completed the sale of its entire stake in Nutritionalab for about ₹307 crore.

DLF

DLF Limited clarified that media reports claiming a Supreme Court-ordered CBI probe are misleading, addressing speculation related to the company.

Neogen Chemicals

Neogen Chemicals Limited will hold a board meeting on March 7 to consider a fund-raising proposal.

Persistent Systems

Persistent Systems Limited will transfer its entire stake in its Polish subsidiary to Aepona Group as part of a corporate restructuring move.

Mufin Green Finance

Mufin Green Finance Limited has approved the allotment of 2.5 crore equity shares and 76 lakh warrants at an issue price of ₹98 per security.

Tourism Finance Corporation

Tourism Finance Corporation of India Limited saw Unity Associates sell 35.5 lakh shares at ₹68.51 per share through a bulk transaction.

IPO Lock-in Expiry

Shares of Vikran Engineering Limited and Urban Company may see activity as anchor investor lock-in periods end today.

Industry Watch: Tiles Manufacturers

Tiles manufacturers in Gujarat could remain under watch as gas supply disruptions impact production in the sector.

Polycab

Polycab India Limited has received an income tax demand notice of ₹337 crore for FY2024-25, which may keep the stock under pressure.

MRPL

Mangalore Refinery and Petrochemicals Limited has halted fuel exports due to feedstock disruptions linked to the Iran conflict.

Fertilizer Sector

Indian urea producers may remain in focus after LNG supply disruptions linked to tensions involving Iran affected production levels.

Magellanic Cloud shares fall sharply over 10% today; Details here

Aman Shukla — Mon, 24 Nov 2025 04:32:12 +0000

Magellanic Cloud saw a sharp pullback in Monday’s morning trade, slipping more than10% even after delivering a strong 17% rally on Friday. The stock opened at ₹61.50 and quickly slipped into the red, touching an intraday low of ₹53.00 by around 11:26 AM.

The stock continues to trade well above its 52-week low of ₹42.49 but remains far off from its 52-week high of ₹105.42. Market activity stayed intense with volumes crossing 1.88 crore shares in the first hour of trade, signalling heightened participation from both traders and short-term investors.

Magellanic Cloud shares were down 10.02% at ₹54.96 apiece around 11.26 am. It has declined 27% this year, so far.

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.

Magellanic Cloud shares rally over 17% today; Details here

Aman Shukla — Fri, 21 Nov 2025 06:06:14 +0000

Magellanic Cloud staged a sharp recovery in Friday’s session, surging more than 17% after the stock had hit a 20% lower circuit on Thursday.

The stock opened at ₹52.49 against the previous close of ₹53.52 and quickly attracted strong buying interest, pushing it to an intraday high of ₹63.00. Even with the swings, it stayed comfortably above the day’s low of ₹50.50. By 11:34 AM IST, trading volumes soared to 3,82,59,033 shares, far outpacing the stock’s 20-day average volume of just 9.3 lakh.

Magellanic Cloud has been under pressure for four consecutive months, facing persistent selling that pushed the stock toward its 52-week low of ₹42.49. The counter has also been in the red for most of the year, declining around 23% so far in 2025 after falling nearly 20% in 2024 as well. Despite the big move today, the long-term chart still shows a stock struggling to stabilise after extended weakness.

Magellanic Cloud subsidiary wins Southern Railway AI surveillance project worth Rs 85 crore

Aman Shukla — Tue, 19 Aug 2025 08:52:14 +0000

Magellanic Cloud Limited, through its wholly owned subsidiary Provigil Surveillance Limited, has bagged a Letter of Acceptance from Rail Vikas Nigam Limited (RVNL) to implement AI-enabled Video Surveillance Systems across Southern Railway. The project, valued at nearly ₹85 crore, will cover 441 D and E category stations while also strengthening surveillance at 43 major stations including those in A1, A, and B categories. The initiative is designed to boost passenger security and introduce a cyber-secure, AI-powered monitoring infrastructure across the railway network.

This major order comes on the back of earlier wins for Provigil Surveillance, including a ₹32 crore project from the National Highways Authority of India (NHAI) and another worth ₹2.25 crore from South Central Railway. Together, these contracts highlight the company’s growing leadership in AI-driven video analytics, smart surveillance, and next-generation security solutions for large-scale infrastructure.

The Southern Railway project involves the installation of high-definition IP-based CCTV cameras, the creation of a robust networking backbone to enable real-time monitoring, and the integration of advanced analytics powered by facial recognition and anomaly detection systems. By aligning with RDSO specifications and adhering to strict cybersecurity compliance, the project is expected to set new standards in operational safety and passenger confidence across Indian Railways.

Magellanic Cloud shares rally 7% today, extend two-day gain to 26% on heavy volumes; Check details

Aman Shukla — Thu, 17 Jul 2025 04:15:43 +0000

Magellanic Cloud shares continued their sharp upward move, jumping over 7% today and hitting a fresh 52-week high of ₹105.42. As of 9:44 AM, the shares were trading 3.69% higher at Rs 100.91.

This rally comes on the heels of a strong 26% surge over the past two trading sessions, driven by heavy volumes and strong investor interest. The stock opened at ₹98.99 and touched a low of ₹98.40 during the day before bouncing back sharply.

Over the past year, the stock has gained an impressive 37.09%, showing consistent momentum and improving sentiment around the company. Today’s surge also marks a significant breakout above its previous highs, hinting at sustained strength in the near term. Market participants seem to be taking a bullish view, possibly anticipating future growth or positive business developments.

Why are Magellanic Cloud shares up 19% today? Details here

Aman Shukla — Wed, 16 Jul 2025 06:28:30 +0000

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.

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.

Magellanic Cloud subsidiary secures Rs 22.5 crore order for E-surveillance system

Aman Shukla — Thu, 26 Jun 2025 08:20:20 +0000

Magellanic Cloud Limited has announced that its wholly owned subsidiary, Provigil Surveillance Limited, has received a significant purchase order from a customer valued at ₹7.5 crore annually. The total potential value of this contract is approximately ₹22.5 crore over a span of three years.

This order involves the deployment of eSurveillance systems across nearly 1,300 sites. The project highlights Provigil Surveillance’s continued leadership in security technology and its ability to execute large-scale surveillance solutions across multiple locations efficiently.

Importantly, the company clarified that this order has no involvement from the promoter group or any of its group companies. The transaction does not qualify as a related party transaction, ensuring full transparency and compliance with regulatory norms.

This development marks another milestone in Magellanic Cloud’s strategy to expand its footprint in high-growth, tech-driven sectors. With demand for surveillance and security solutions rising, the order is expected to strengthen the company’s revenue pipeline and contribute to consistent long-term growth.

Magellanic Cloud shares jump 3% on Rs 40 crore e-surveillance order win

Aman Shukla — Mon, 19 May 2025 07:54:45 +0000

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.

Magellanic Cloud to acquire Indian Fintech company for Rs 32 crore

Aman Shukla — Fri, 21 Feb 2025 07:04:38 +0000

Magellanic Cloud Limited has officially issued a Letter of Intent (LOI) to acquire a leading Indian-based fintech company. The proposed acquisition, valued at INR 32 Crores, is subject to the successful completion of the ongoing due diligence process.

The company aims to finalize the Share Purchase Agreement (SPA) by March 15, 2025. All final terms and conditions, as outlined in the LOI, will need to be accepted before the deal is sealed.

In the meantime, the company is set to invest over ₹300 crore on acquiring a US-based technology company and 4-5 smaller firms in 2025-26.

Joseph Sudheer Thumma, Managing Director & Global CEO, confirmed that the company is finalizing a ₹200 crore deal with a US firm, expected to close by May 2025. The acquisition will be funded using ₹100 crore from internal accruals, with the remainder raised through a preferential or QIP issue.

Additionally, the company plans to acquire smaller firms to expand its service offerings, client base, and global presence. With these acquisitions, Magellanic Cloud anticipates a 15-20% growth in the next financial year, with an even higher growth rate in 2025-26.