Megasoft jumps on new order

Late in the evening yesterday, Megasoft announced that it has received an order from the Bihar Govt.

The company, was awarded the cloud-enabled solution & services contract by the Bihar State Electronics Development Corporation Ltd. (BELTRON). The state Government of Bihar, through BELTRON, plans to establish state-of-the-art cloud computing facility for use by its various e-Governance programs and other IT-driven initiatives.

The cloud-enabled State Data Centre (SDC) named ‘Bihar Cloud’ is one of the important elements for supporting initiatives of National e-Governance Plan (NeGP). The primary purpose of the cloud computing solution is to establish a viable ‘Private’ cloud environment for use by the various e-Governance applications of Bihar.

The company goes on to give a lot of data in the Press Release but there is no word on the financial value of this order.

Nevertheless, the market is thrilled and the stock rose intra day by 15% to Rs.23. Its 52-week high stands at Rs.26. Its market cap is less than Rs.100 crore and promoters holding is pretty pitiable at 7.24%.