Whether it’s a coincidence or a divine signal between the numbers, Nifty touched a record high of 22,124, symbolizing the significance of the Ram Mandir, as it translates into 22-1-24 the date of the temple’s much-awaited Prana Pratishtha ceremony on January 22, 2024.
Stocks that are associated with the security of Ram Mandir to keep on your radar .
The excitement around the historic inauguration of the Ayodhya temple has spilled over to Dalal Street. Few stocks related to the Ram Mandir inauguration have rallied on the exchange.
Here are two stocks that are associated with the provision of security for the Ram Mandir
Allied Digital Services Ltd
Allied Digital Services Limited is an IT services company that is in the business of providing services of designing, developing, deploying digital solutions, and delivering end-to-end IT infrastructure services, Enterprise applications, and Integrated solutions.
On a year-to-date basis, Allied Digital Services stock has gained 37%, while the stock rose around 3.5% to an intraday high price of ₹193 on January 20, 2024.
Allied Digital Services has been selected as a Master System Integrator (MSI) for the Integration of CCTV Surveillance with the Existing ITMS Control Room for the Ayodhya Smart City Project.
The project entails the establishment of a multi-location CCTV surveillance system in Ayodhya followed by a five-year operational and maintenance (O&M) phase. The company plays a key role in handling live feeds of the Video Management System (VMS) for secure storage of footage.
The primary goals include enhancing safety and security and optimizing city administration efficiency in Ayodhya City.
The company’s revenue has marginally increased year on year, rising from ₹167 crore in Q2FY23 to ₹170 crore in Q2FY24. While during the same time, net profit declined by 40 percent from ₹18 crore to ₹11 crore.
The company has received several smart city projects to implement technology in Amritsar, Jalandhar, Sultanpur, Lucknow, and Solapur.
In FY23, the company received 22% of its revenue from the Indian market followed by 78% from the rest of the world. The company gets 33% of its revenue from the top 33% of clients.
SIS Ltd
SIS is one of the leading security solution-providing companies in India and the Asia Pacific regions. The company offers services to Governments, business organizations, and end consumers.
SIS Ltd has signed an agreement with the Ram Mandir Trust as an official private security partner to deploy its personnel at the temple complex in Ayodhya.
SIS has deployed its security personnel during the construction phase of the Ram Mandir since May 2022. Apart from security manpower deployment in and around the Mandir premises, SIS has also deployed best-in-class technology including body cameras for personnel involved in crowd management,
Security & Intelligence Service(SIS) is directly and indirectly engaged in the business of rendering security and related services consisting of manned guarding, and training, and indirectly engaged in paramedic and emergency response services.
Furthermore, the company is a business of facility management services consisting of cleaning, housekeeping, and pest control management services in the areas of facility management.
On a year-to-date basis, SIS stock has gained 11%, while the stock rose around 8.5% to an intraday high price of ₹560 on January 20, 2024.
The company’s revenue has increased by 11 percent year on year, rising from ₹2,768 crore in Q2FY23 to ₹3,074 crore in Q2FY24. While during the same time, net profit has increased by 12 percent from ₹67 crore to ₹75 crore.
The company receives 41% of its revenue from security solutions followed by 15% from facility management and 44% from cash management services.
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