Rolta India surges as its arm bags $31 million contract from MLGW

Rolta India is currently trading at Rs. 66.15, up by 1.15 points or 1.77% from its previous closing of Rs. 65.00 on the BSE.

The scrip opened at Rs. 65.75 and has touched a high and low of Rs. 67.00 and Rs. 65.25 respectively. So far 236785 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 108.10 on 01-Mar-2012 and a 52 week low of Rs. 58.85 on 20-Nov-2012.

Last one week high and low of the scrip stood at Rs. 67.30 and Rs. 63.35 respectively. The current market cap of the company is Rs. 1074.45 crore.

The promoters holding in the company stood at 44.21% while Institutions and Non-Institutions held 27.60% and 25.98% respectively. 

Rolta India’s wholly owned subsidiary - Rolta International, Inc., has been awarded a $31 million contract, to be executed over the next two years, to provide consulting, systems integration and software services to the largest three-service municipal utility in the United States, Memphis Light Gas and Water (MLGW).

This award includes the customization, implementation and deployment of Oracle’s E-Business Suite R12, Telvent’s ArcFM software and PowerPlan’s suite of asset-centric accounting solutions. The project includes the full range of Oracle E-Business Suite applications, including Financials, eAM, GIS, Human Resources, Hyperion and Business Intelligence. When the integrated Oracle R12-based solution is fully deployed in 2014 it will be one of the first R12 and Oracle eAM deployments in the United States for a three-service utility.

Besides, Rolta recognized for its expertise in Oracle technologies through eight ‘Titan Awards’, will leverage its extensive Oracle E-Business and Financials experience, and its domain expertise in the Utilities sector, garnered through numerous projects world-wide. Rolta is leading a consortium including ‘Signum Group’, ‘Teaming Solutions’ and ‘Stragistics’, and will exploit the collective experience of the team to provide a superior solution to MLGW.

Further, MLGW will replace its 22 year-old legacy Management Support System with a comprehensive solution comprising a fully integrated enterprise resource planning system that encompasses Financial Management, Work Management, Materials and Assets Management, and numerous re-engineered business processes to meet its current business needs. 

Rolta India is a leading provider of innovative IT solutions for many vertical segments including utilities, governments, transportation, process, power, banking and insurance.