Magellanic Cloud Subsidiary Secures ₹127.62 Million Order from GAIL for E-surveillance System
Provigil Surveillance Limited, a wholly owned subsidiary of Magellanic Cloud Ltd., has secured a purchase order from GAIL (India) Limited. The contract involves the deployment and maintenance of an integrated E-surveillance system across GAIL's NCR (Operations & Maintenance) network.
The project was awarded through the Government e-Marketplace (GeM) platform. The scope of work for Provigil includes the Supply, Installation, Testing, and Commissioning (SITC), along with ongoing maintenance of the advanced Esurveillance infrastructure, adhering to GAIL's technical specifications and contractual requirements.
The total value of this contract stands at ₹ 127.62 million.
This engagement significantly reinforces Magellanic Cloud Ltd.'s presence within critical infrastructure and public sector segments. The order reflects confidence from leading public sector enterprises in the capabilities and advanced AI-enabled surveillance technology offered by the Company.
Commenting on the development, Mr Joseph Sudheer Thumma, Global CEO and Managing Director of Magellanic Cloud Limited, stated that the purchase order from GAIL establishes a foundation for building a strong footprint in India's critical Oil & Gas sector. He added that it reflects the confidence placed in Provigil’s execution capabilities and their AI-enabled surveillance technology, marking a meaningful step in the Company's strategy to expand into critical infrastructure verticals across the country.
MCLOUD Stock Price Movement
As of 9:25 AM, shares of Magellanic Cloud Limited are slipping by 0.74% in live trading, currently resting at ₹29.35. The stock has shed ₹0.22 during the session on a traded volume of 641,367 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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