Soundbox manufacturing company bags a new order worth Rs 24,00,00,000 from leading NBFC
The stock is up by 44 per cent from its 52-week low of Rs 590 per share.
On Thursday, shares of CWD Ltd gained 7.60 per cent to an intraday high of Rs 850 per cent from its previous closing of Rs 790 per share. The stock’s 52-week high is Rs 1,144 and its 52-week low is Rs 532. The company has a market cap of over Rs 250 crore.
CWD Limited has secured a significant order from a leading Non-Banking Financial Company (NBFC) in India for the supply of "Sound Boxes." This domestic order, valued at INR 24 crores (excluding taxes), is expected to be executed within a 12-month timeframe. The order aligns with the company's previous announcement of a substantial Rs 100 crore order for its design, development, and manufacturing services for the Sound Box product line. CWD Limited remains committed to delivering innovative solutions that meet the evolving needs of its clients.
“Partnering with one of the leading NBFCs of the country allows us to play a small part in fostering financial inclusion amongst an underserved segment. With deployment already underway PAN India, the potential of serving over 50 million customers gives us major motivation to continue fulfilling our vision of developing products that affect our everyday lives.”, said Siddhartha Xavier, CSO and Joint MD of CWD Limited.
Earlier, the company joined forces with PhonePe Pvt Ltd, India's top fintech platform, to revolutionize digital payments. The companies have inked a Rs 100 crore, two-year Master Supply Agreement to collaborate on the development and production of the innovative Sound Box. This groundbreaking device, which provides audible transaction confirmation in multiple languages, has already made significant strides in financial inclusion by simplifying UPI payments for merchants. CWD Limited will spearhead the entire design, development, and manufacturing process of the Sound Box, ensuring its high quality and timely delivery to meet the growing demand for this cutting-edge payment solution.
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About the Company
CWD Ltd, founded in 2016, is an information and communication technology company that specializes in designing, developing, manufacturing and selling integrated software-electronic solutions. Their focus is on wireless technologies ranging from short-range radio (NFC, Bluetooth, Wi-Fi) to long-range communication (5G LTE).
They operate in two segments: consumer electronics and enterprise/business technology solutions. CWD offers a variety of products including smart medical devices, vaccine trackers, cattle tracking devices, smart meter conversion kits, employee safety solutions, smart lighting components and Bluetooth modules for various applications.
The stock is up by 44 per cent from its 52-week low of Rs 590 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.