By Michael Susin
Shares in CyanConnode Holdings jumped after the group said it has received an order for 300,000 Omnimesh modules from IntelliSmart Infrastructure’s subsidiary Dakshin Gujarat Smart Metering in India.
Shares at 0841 GMT were up 1.5 pence, or 11%, at 15.25 pence.
The U.K. smart-metering company will also provide hardware, software and maintenance services as part of the order, it said.
Financial details of the order weren’t disclosed.
Supply of the modules is expected to start during the third quarter of 2024, while the support and maintenance contract will be in effect for a period of seven-and-a-half years after the go-live stage.
It is the second order CyanConnode has received under a strategic framework agreement for 3 million modules signed in February. To date, the total number of modules ordered under the agreement has reached 900,000.
Write to Michael Susin at michael.susin@wsj.com
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