Magellanic Cloud Ltd Share Price – NSE  / BSE

IT - Software, Small Cap

Magellanic Cloud announced the formation of a strategic joint venture (JV) to manufacture advanced Unmanned Aerial Vehicle (UAV) systems in India.

The company has entered into the JV with Rayonix Tech, an India-based defence technology company, in partnership with XTEND, an Israel-based AI-powered robotics, UAV and software systems company. This development marks a significant step in Magellanic Cloud's expansion within the fast-growing defence and security technology sector.

The joint venture, valued at ~US$11 million (~Rs 100 crore), will establish end-to-end manufacturing, testing, and distribution capabilities in India. These UAVs will cater to the evolving requirements of the armed forces and security agencies, supporting surveillance, reconnaissance, and mission-critical operations.

The joint venture aims to cater to the growing demand for advanced UAV systems from India's defence ecosystem. By leveraging XTEND's proven autonomous operating systems and combining them with domestic manufacturing capabilities, the joint venture seeks to deliver mission-critical drone solutions built for Indian operational requirements.

This strategic partnership further strengthens Magellanic Cloud's growing presence in drone technologies, AI-led surveillance, and intelligent infrastructure solutions, reinforcing its position as a technology-driven enterprise focused on emerging and high-growth sectors and investing in future-ready technologies with strong national relevance.

The contract involves the provision of a CCTV surveillance system, including the supply, installation, testing, commissioning, and maintenance of cameras mounted on metallic poles, with video data stored in network video recorders (NVRs) installed at LC gate buildings. Each station and LC gate will have independent systems, along with a centralized command and control center at Bhusawal for monitoring and operations.

The system will also be equipped with AI-based features for enhanced surveillance capabilities. The contract has been awarded by a domestic entity and is to be executed within a period of 6 months.

Magellanic Cloud specializes in offering services pertaining to software development, digital transformation, generative artificial intelligence (GenAI), the internet of things (IoT), e-surveillance, and advanced drone-based applications. The company's consolidated net profit declined 2% to Rs 28.63 crore on an 8.3% increase in revenue to Rs 163.93 crore in Q3 FY26 as compared with Q3 FY25.

The counter advanced 1.85% to end at Rs 21.52 on the BSE. The stock market will remain shut today on account of Shri Ram Navami.

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The order entails deployment of integrated e-surveillance systems at ATMs and cash recycling machines (CRMs).

The scope includes end-to-end implementation, covering installation, commissioning and maintenance of the systems under an OPEX model for a period of five years, the company said in a regulatory filing.

The contract is slated to be executed over five years.

The company added that the deal does not fall under related party transactions and that neither the promoter nor promoter group has any interest in the awarding entity.

Magellanic Cloud specializes in offering services pertaining to software development, digital transformation, generative artificial intelligence (GenAI), the internet of things (IoT), e-surveillance and advanced drone-based applications. The company's consolidated net profit declined 2% to Rs 28.63 crore on an 8.3% increase in revenue to Rs 163.93 crore in Q3 FY26 as compared with Q3 FY25.

Punjab and Sind Bank is a leading public sector bank and a major bank in northern India. The bank provides customer service through innovative products and services for different customer segments. The bank?s standalone net profit jumped 19.3% to Rs 336.42 crore on 8.6% increase in revenue from operations to Rs 3549.27 crore in Q3 FY26 over Q3 FY25. The scrip rose 2.44% to Rs 22.67 on the BSE.

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Magellanic Cloud announced that its wholly owned subsidiary, Provigil Surveillance has received a Letter of Intent (LOI) / advance intimation to commence work from RailTel Corporation of India for installation of CCTV surveillance system. The project is valued at Rs 1.55 crore.

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