Hinduja Global’s shares rise after subsidiary CelerityX introduces OneX solution

Hinduja Global Ltd.’s shares were up by 5.03 per cent after the company announced that its broadband subsidiary, CelerityX, the enterprise networking solutions business of OneOTT Entertainment Ltd. introduced OneX, a network-as-a-service solution encompassing network management, security, and LAN-side control.

This launch coincides with CelerityX’s partnership with the Maharashtra State Cooperative Credit Societies Federation (MAFCOCS) to address connectivity challenges faced by cooperative credit societies in Maharashtra.

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The company informed, the deployment of OneX aims to provide secure and high uptime banking connectivity for over 40,000 branches in Maharashtra, with potential nationwide expansion to serve over 100,000 branches. The solution targets connectivity issues prevalent in Tier 2 and 3 cities, offering agility and security through its ability to leverage multiple WAN technologies, including mobile SIM.

The company further informed, under the alliance with MAFCOCS, cooperative credit societies in Maharashtra will benefit from streamlined connectivity, utilizing broadband and mobile SIM alongside firewalls and zero-radius perimeter security solutions. 

Om Prakash Dadaapa, President of MAFCOCS, said, “Maharashtra has over 16,000 credit societies. These credit societies are increasingly becoming significant in their size and impact compared to cooperative and national banks. Many of them, in fact, have stronger assets under management (AUM) and financials than larger banks. This growth in assets also brings the responsibility of ensuring technology modernization for these credit societies to serve their customers better. While this technology transformation brings convenience to customers, it also exposes the credit societies’ infrastructure to cybersecurity threats and network intrusions.”

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“OneX addresses these challenges seamlessly – providing a Unified Threat Management Solution including network, firewall and endpoint security to all credit societies. Samta Sahakari Patasanstha has already taken a step by implementing OneX across its branches in Maharashtra. I strongly urge all other credit societies to follow suit and take advantage of this robust security solution,” he added.

The shares were up by 5.03 per cent to ₹850 at 12.42 pm on the BSE.

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