Allied Digital shares rise up to 6% after bagging ₹420 crore contract from European pharma company

Shares of Allied Digital Services Limited gained over 6% on Wednesday, August 6,  after the company said it secured a five-year ₹420 crore contract from a European multinational pharmaceutical company.The company, in an exchange filing, said the agreement is set to transform the digital workplace for over  120,000 employees spanning 66 countries across the Americas, Europe, and the Middle East.

The scope of the contract includes emphasis on IT solutions focusing on desk-side and hardware support, management of collaboration and meeting room technologies, and audio-video platform support.

In addition, Digital Allied said it will also provide installation, move, add, and change (IMAC) services for end-users and establish dedicated IT experience centres.Nitin D Shah, CMD – Allied Digital, said the contract validates the company’s global capabilities and highlights its expertise in delivering large-scale, complex and transformative projects.

Shares of Allied Digital Services gained 6.4% to hit an intraday high of ₹184.3 apiece. The stock later pared gains and was trading 2.09% up at ₹176.83 apiece. It has declined 27.7% this year, so far.

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