Magellanic Cloud Limited , a company listed on the Bombay Stock Exchange (BSE), has reported significant insider trading activity involving a member of its promoter group. The company's Managing Director, Jagan Mohan Reddy Thumma, disclosed the transactions to the BSE in compliance with insider trading regulations.

Transaction Details

Joseph Sudheer Reddy Thumma, a member of the promoter group, executed the following share purchases:

The acquisitions took place over two consecutive days, resulting in a total purchase of 242,500 equity shares of Magellanic Cloud Limited.

Regulatory Compliance

The disclosure of these transactions aligns with the Securities and Exchange Board of India (SEBI) regulations on insider trading. These rules require promoters, directors, and other insiders to report their transactions in the company's securities to ensure transparency and maintain market integrity.

Implications

While the specific reasons for the share purchases were not disclosed, such transactions by promoter group members are often closely watched by investors and market analysts. They can sometimes be interpreted as a sign of confidence in the company's prospects, although various factors can influence such decisions.

Shareholders and potential investors are advised to consider this information as part of their overall assessment of the company, along with other financial and operational metrics, when making investment decisions.

Magellanic Cloud Limited continues to operate under the leadership of Managing Director Jagan Mohan Reddy Thumma, who ensured the timely disclosure of these insider transactions to the BSE.

Magellanic Cloud Limited (MCL) has announced that its wholly-owned subsidiary, Provigil Surveillance Limited, has secured multiple railway surveillance contracts totaling approximately Rs 119.25 crores. This development marks a significant milestone for the company in the field of AI-powered surveillance solutions.

Major Contract with Rail Vikas Nigam Limited

Provigil Surveillance Limited has received a Letter of Acceptance from Rail Vikas Nigam Limited (RVNL) for a contract valued at Rs 85.00 crores. The project involves:

• Providing Video Surveillance Systems (VSS) across 441 D & E category railway stations
• Augmentation of surveillance systems at 43 major stations (Categories A1, A, and B) of Southern Railway

The scope of this project includes:

• Supply, installation, testing, and commissioning of high-definition IP CCTV cameras at stations and RPF/GRP posts
• Implementation of robust networking equipment for seamless connectivity and real-time monitoring
• Deployment of Video Management Servers, AI-based Video Analytics, and Face Recognition Software (FRS) with scalable storage

Additional Contracts

In addition to the RVNL contract, Provigil Surveillance Limited has secured:

1. A contract worth Rs 2.27 crores from South Central Railway for replacing video surveillance systems at Secunderabad Railway stations
2. An earlier Letter of Acceptance from NHAI valued at Rs 32.00 crores for the deployment of AI-based Video Surveillance Systems on national highways

Technological Advancements

The projects involve cutting-edge AI-enabled surveillance infrastructure, including:

• IP-based CCTV deployment
• Advanced networking infrastructure
• AI integration with face recognition software
• Video analytics featuring vehicle counting and classification

Strategic Importance

Joseph Sudheer Reddy Thumma, Global CEO & MD of Magellanic Cloud Limited, emphasized the strategic importance of these contracts, stating, "These back-to-back project wins of about 119.25 crores underscore our strong capabilities in delivering large-scale, AI-powered surveillance solutions that meet the highest standards of safety and cybersecurity."

Future Prospects

The successful acquisition of these contracts positions Magellanic Cloud for potential expansion into other sectors. Thumma expressed confidence in the company's ability to expand its footprint into airports, metros, and smart city projects, positioning Magellanic Cloud as a trusted partner in building smarter and safer infrastructure for India and beyond.

Compliance and Disclosure

Magellanic Cloud Limited has confirmed that none of the promoter/promoter group/group companies have any interest in the entities that awarded the contracts. Additionally, the company stated that these contracts do not fall within the purview of related party transactions.

These developments represent a significant step forward for Magellanic Cloud Limited and its subsidiary in the realm of AI-driven surveillance and security solutions, potentially opening doors to larger projects in the future.