Under Rs 50: Micro-cap Company Secures Rs 15,54,59,632 Order from Tamil Nadu Water Resources Department – Stock Hits Upper Circuit Today
The project involves the Supply, Installation, Testing, and Commissioning of a SCADA based Reservoir Gate Automation and Decision Support System, along with a 5-year Operations and Maintenance period for the Chennai City Water Supply Reservoirs Project.
Canarys Automations Ltd (formerly known as Canarys Automations Private Limited) has been awarded a significant contract by the Government of Tamil Nadu, Water Resources Department, Chennai Region, Palar Basin Circle, Chennai. The project involves the Supply, Installation, Testing, and Commissioning of a SCADA (Supervisory Control and Data Acquisition) based Reservoir Gate Automation and Decision Support System, along with a 5-year Operations and Maintenance period for the Chennai City Water Supply Reservoirs Project.
The project execution will commence in December 2024, with the supply, installation, and commissioning phase scheduled to be completed by December 2025, followed by a 5-year operations and maintenance phase. The total value of the contract is Rs 15,54,59,632 (Rupees Fifteen Crores Fifty-Four Lakhs Fifty-Nine Thousand Six Hundred Thirty-Two Only).
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Share Performance
Currently, the shares of Canarys Automations Ltd are at around Rs 40.75 per share on the NSE and hit the upper circuit. The current market capitalization stands at Rs 228.95 crore.
Business Overview
Incorporated in 1991, Canarys Automations Ltd (CAL) operates in software and hardware development, consultancy services, electronic equipment manufacturing, and turnkey water management system projects. CAL is an IT solutions and consulting firm specializing in delivering technology and water resource management solutions to clients worldwide. As of FY24, the company has successfully executed 120 projects across 10 countries.
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Disclaimer: The article is for informational purposes only and not investment advice.