Dynamic Services Security Share Price Locked In Upper Circuit On Rs 476-Crore MoU With Orion Security

Dynamic Services & Securities Ltd.'s share price rose to its upper circuit limit after it signed a Memorandum of Understanding for work contract worth Rs 476 crore with Orion Security.

"The purpose of this MOU is to define the terms and conditions under which the second party DSSL will assist the first party Orion Security solutions in collecting its receivables from the clients, including the process for invoicing, payment collection, payment distribution and reimbursement of expenses," an exchange filing by the company said.

The effective time period for the contract is from Jan. 4, 2025 to March 31, 2027.

Share price of Dynamic Services & Securities rose as much as 5% to Rs 374 apiece. It was locked in its 5% upper circuit as of 9:57 a.m. This compares to a 0.2% advance in the NSE Nifty 50 Index.

The stock has risen 204.6% in the last 12 months. Total traded volume so far in the day stood at 153 times its 30-day average. The relative strength index was at 55.02.