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₹420-cr deal lifts Allied Digital share 6%; should you buy, sell or hold?

Allied Digital Services share price: IT service management company Allied Digital Services share price rallied as much as 5.59 per cent to an intraday high of ₹184.05 per share on Wednesday, August 6, 2025. Around 11:30 AM, Allied Digital shares were trading 3.27 per cent higher at ₹180 per share. In comparison, BSE Sensec was trading 0.26 per cent lower at 80,498.50 levels. Why did Allied Digital share rise today? Allied Digital Services' stock surged after the company secured a major five-year contract worth ₹420 crore from a leading European multinational pharmaceutical giant. The deal aims to overhaul the digital workplace experience for over 120,000 employees across 66 countries, including regions in the Americas, Europe, and the Middle East. Under the agreement, Allied Digital will deliver a wide range of IT services -- spanning deskside and hardware support, collaboration and meeting room technology management, audio-video platform support, and IMAC (Install, Move, Add, Change) services. The company will also set up dedicated IT experience centers in key regions to enhance user satisfaction. 'This strategic engagement will position Allied Digital as a key partner in modernising the client's digital infrastructure and improving the overall employee experience on a global scale, the company said in a statement. Nitin D Shah, CMD of Allied Digital said, 'We are pleased to announce this landmark contract with a leading multinational pharmaceutical company. This prestigious engagement, valued at ₹420+ crore over five years, focuses on transforming the digital workplace for over 120,000 employees across 66 countries. It validates our global capabilities and highlights our expertise in delivering large-scale, complex and transformative projects, thereby solidifying our position as a trusted provider of enterprise-grade solutions.' What do experts say? According to Ravi Singh, SVP of retail research at Religare Broking, Allied digital services share price has taken a sharp reversal from its strong support at ₹149-154 zone with good volume and likely to hit upside targets of ₹208-212 from current market price of ₹179 which has around 18-20 per cent upside potential. With ongoing tariff tensions with the US, investors should approach this stock cautiously as the company has huge revenue exposure from the US. 'On the weekly chart the stock price has taken a reversal from the golden zone of Fibonacci ratio which indicates bullishness further. Investors can consider fresh buying in the stock if it sees any dip towards ₹170 level with risk managed at ₹155 for the upside targets of ₹200-210 on a positional basis,' Singh suggested. Meanwhile, Sudeep Shah, vice president of technical research at SBI Securities said, despite the pullback of nearly 25 per cent in the last three trading sessions (low of ₹147.61 on August 4 to the high of ₹184.30 on August 6, the overall trend is bearish. The price has been moving in a lower high lower low formation since the high of ₹319.90 made on September 5, 2024. The RSI has risen sharply from 23 to 56 in the last three days, while the ADX, a key trend strength indicator, has started to rise, indicating early signs of momentum shifting on the upside. However, the current pullback move from the lower levels can be called a trend reversal yet. The stock still trades below its key long-term averages of 100 & 200 EMA. 'The immediate resistance for the stock is placed in the ₹188-190 zone. This is also the zone where the previous swing high for the stock is placed. The price needs to move up and close above this zone first. Follow up above this zone can lead to price moving to ₹200 followed by ₹225 levels in the short-term. On the downside, the zone of ₹145-150 is likely to act as a strong support for the stock,' Shah added. About Allied Digital Services Allied Digital Services Ltd., founded in 1984 and headquartered in Mumbai, is a BSE/NSE-listed global leader in IT consulting and managed services. With a presence in over 70 countries and a workforce of more than 3,000 professionals, the company is renowned for delivering comprehensive infrastructure solutions and acting as a Master Systems Integrator for enterprises worldwide. Allied Digital provides a broad portfolio of services including cloud enablement, cybersecurity, software development, infrastructure management, integrated solutions, and workplace services. It was the first Indian company to implement a Smart City project, executing the landmark Pune City Surveillance initiative in 2015. The company partners with leading platforms such as AWS, Microsoft Azure, Google Cloud, and VMware to deliver secure, scalable, and customized digital transformation solutions. Serving Fortune 500 clients across industries like government, healthcare, BFSI, automotive, and retail, Allied Digital leverages deep domain expertise and robust governance frameworks to help businesses modernise their IT ecosystems, enhance operational efficiency, and adapt to an increasingly digital world.