IT stock under ₹70 jumps after it receives order worth ₹38 Cr from MexicoIT stock under ₹70 jumps after it receives order worth ₹38 Cr from Mexico

Introduction:

IT stock has secured a ₹38 crore (USD 4.477 million) order from a Mexican telecommunications company for SD-WAN managed services. The three-year project includes network setup, customization, and remote support, with a Network Operating Centre (NOC) based in India for seamless operations.

Share Price movement of Vedavaag Systems:

On February 4, 2025, Vedavaag Systems Ltd opened at ₹62.01, slightly below its previous close of ₹62.49. The stock surged to a high of ₹68.00 and dropped to a low of ₹62.01. It closed at ₹66.23, gaining 5.98%, with a market cap of ₹151.83 crore.

Vedavaag Systems new order:

Vedavaag Systems Limited secured a ₹38 crore (USD 4.477 million) order from Tecnología en Redes y Telecomunicaciones Edelweiss SA DE CV – Mexico. The project spans three years with an eight-week lead time for managed services. The Network Operating Centre (NOC) will be based in India.  

The contract includes SD-WAN device setup, installation, and network customization. Vedavaag will manage hub devices with speeds from 500 Mbps to 25 Gbps. It also covers remote support for users under Secure Service Edge (SSE) and SD-WAN training.  

There is no involvement of promoters or related-party transactions. The contract is executed at arm’s length, ensuring compliance with SEBI regulations. This deal strengthens Vedavaag’s global presence in network infrastructure and managed services.

Recent news About Vedavaag Systems :

On November 14, 2024, Vedavaag Systems Limited announced the resignation of Mr. D. Ramesh Sinha from his position as an Independent Director, effective immediately. The Board expressed appreciation for his contributions during his tenure. 

Also Read: Defence stock jumps 4% after its net profit increases by 99.46% in Q3

Ace investor holding of  Vedavaag Systems:

K Vijay Kumar holds 5,50,126 shares of Vedavaag Systems Ltd., representing 2.40% ownership, valued at ₹3.6 crore. His holdings remain unchanged from the previous quarter, reflecting continued confidence in the company’s growth potential and long-term business prospects in IT and telecom infrastructure.  

S Abheesh owns 4,50,000 shares in Vedavaag Systems Ltd., accounting for 1.96% stake, with a total valuation of ₹3.0 crore. His shareholding remains stable, indicating a strategic investment approach while monitoring the company’s performance in IT services.

Stock performance of Vedavaag Systems for Period of 1 week, 6 months and 1 year:

Vedavaag Systems’ stock delivered a 3.94% gain over the past week, reflecting short-term positive momentum. Over the last six months, it rose by 5.90%, indicating steady growth. However, the one-year return stands at -7.30%, showing a decline over the longer investment horizon.

Also Read: Retail stock jumps 5% after its net profits grow by 153% YoY

Shareholding pattern of Vedavaag Systems:

Summary	Dec-24	Sep-24	Jun-24
Promoter	36.00%	36.00%	36.00%
FII	3.80%	4.20%	0%
DII	0%	0%	0%
Public	60.30%	59.80%	64.00%

About Vedavaag Systems: 

Vedavaag Systems Ltd (BSE: VEDAVAAG) focuses on IT solutions, e-governance services, and telecom infrastructure. It provides software development, managed services, and system integration. The company serves government and enterprise clients, offering innovative digital solutions to enhance operational efficiency and business transformation across various sectors.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.