Stock Below Rs 30: This Low PE Small-cap Stock Bags Rs 18.4 Crore Order for E-Surveillance Across 1,000 PNB ATMs

Om DSIJ/ 12 Aug 2026 /Categories: Mindshare, Trending

Stock Below Rs 30: This Low PE Small-cap Stock Bags Rs 18.4 Crore Order for E-Surveillance Across 1,000 PNB ATMs

Magellanic Cloud's wholly owned subsidiary IVIS International has secured multiple purchase orders from NCR Corporation India for e-surveillance solutions across 1,000 Punjab National Bank ATM sites, with the orders valued at approximately Rs 18.4 crore over five years

✨ Key Takeaways

Magellanic Cloud wholly owned subsidiary, IVIS International Private Ltd, has secured multiple purchase orders from NCR Corporation India Private Limited for providing e-surveillance solutions across Punjab National Bank ATM sites. The purchase orders, comprising both Capex and Opex components, have an aggregate value of approximately Rs 18.4 crore and will be executed over a period of five years. The deployment will cover 1,000 PNB ATM sites across the country.

Rs 18.4 Crore E-Surveillance Order

The purchase orders have been awarded by NCR Corporation India Private Limited to IVIS International for deployment of e-surveillance solutions across PNB ATM sites. The aggregate order value is approximately Rs 18.4 crore, with the project comprising both Capex and Opex components.

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The deployment covers 1,000 ATM sites of Punjab National Bank, highlighting the scale of the project. According to the company, the order further strengthens IVIS International's presence in the Banking and Financial Services e-surveillance segment, particularly in large-scale ATM surveillance deployments.

The project also reinforces IVIS's capabilities in executing technology-led e-surveillance deployments across large and distributed banking networks. The combination of Capex and Opex components provides the company with opportunities across both deployment and services.

Focus on BFSI and AI-Enabled Surveillance

Joseph Sudheer Reddy Thumma, Chairman and Managing Director of Magellanic Cloud, said BFSI has remained a key focus area for IVIS, with the company having built experience in delivering e-surveillance solutions for banking networks and critical financial infrastructure over the last 1.5 decades.

The company said it will continue to leverage its domain expertise, AI-enabled e-surveillance capabilities and pan-India deployment strength to deepen its presence in the BFSI segment and address the evolving security requirements of financial institutions.
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About Magellanic Cloud

Magellanic Cloud Limited is a technology company headquartered in Hyderabad, with operations across digital transformation, Generative AI, cloud computing, e-surveillance and drone technologies. The company provides solutions across smart infrastructure, Defence, fintech and enterprise IT and serves more than 100 clients across the USA, Europe and Asia.

The company operates through subsidiaries including Motivity Labs, Provigil Surveillance Limited, IVIS International, Scandron, MCRAYXTEND India and JNIT Technologies. Its solutions are deployed across critical infrastructure projects covering Railways, highways, BFSI, PSUs and urban security systems. Magellanic Cloud is backed by more than 1,600 professionals and has achieved CMMI Maturity Level 3 certification.

Magellanic Cloud Share Price

Magellanic Cloud shares were trading at Rs 29.50, up 2.04 per cent on Wednesday, while the benchmark Nifty 50 index declined 0.76 per cent to 24,286.50. The stock gained after the company announced the Rs 18.4 crore purchase orders for e-surveillance solutions across 1,000 PNB ATM sites.