DEVIT Bags ₹1.02 Cr RajCOMP Order: Digitalizing Rajasthan's Governance 🚀

Hey finance enthusiasts!

Big news from the tech world as Dev Information Technology Limited (DEVIT) has just announced a significant new order! The company, trading under the symbol DEVIT, has secured a valuable contract from RajCOMP Info Services Ltd., a key entity under the Government of Rajasthan.

This new engagement, dubbed the “Raj Feb” Project, is all about bringing digital transformation to the Factories and Boilers Inspection Department in Rajasthan. DEVIT will be providing comprehensive IT/ITeS and software development services. The core aim? To enhance the enforcement of crucial legislation like the Factories Act of 1948 and the Boilers Act of 1923, ultimately boosting safety, health, and welfare for workers across the state. It’s a fantastic example of technology being leveraged for public good! 🛠️

Financially, this is a solid win for DEVIT, with the contract valued at approximately ₹1.02 crore. The project is set to be completed over an estimated period of fourteen months, indicating a steady stream of work for the company. This is a domestic, fixed-cost contract, further solidifying DEVIT’s footprint in government projects within India.

As of its last traded price, DEVIT shares were at ₹113.7, showing a 3.2% dip. This new order, however, highlights the company’s continued success in securing significant government contracts and its role in India’s ongoing digital push. Keep an eye on DEVIT as they continue to expand their reach in the digital governance space!

source: Corporate Announcement

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