PhonePe backed monopoly IT company partners with Kia India for providing navigation solutions; FIIs and DIIs increased stake in Q4 FY24

PhonePe Private Limited holds a substantial stake of 18.86 per cent in the company, according to the Q4 FY24 update.

Kia India announced its partnership with Map My India or CE Info Systems to provide navigation solutions to its customers nationwide, as reported by PTI on Thursday.

The integration of Map My India's navigation solutions by Kia aims to offer support to drivers, ensuring convenient access to essential services and amenities. Through this collaboration, Kia India seeks to provide its customers with a comprehensive solution for their navigation needs.

According to the automaker, Map My India's platform offers specific points of interest search tailored for four-wheelers, covering over 450 categories. This feature enables users to easily discover vital services such as dealerships, service centers, fuel stations, hospitals, hotels, restaurants, and more.

Additionally, drivers will benefit from features such as speed limit alerts, real-time incident updates, and voice-guided navigation support while on the road. This collaboration underscores Kia India's commitment to enhancing the driving experience for its customers by leveraging advanced navigation technology.

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Share Performance

The shares of CE Info Systems rallied over 3 per cent and touched a high of Rs 2072 per share. Today, the stock opened at Rs 2018.05 per share, compared to Tuesday’s closing figure of Rs 2009.25 per share on the BSE. Currently, the shares of the company are trading at around Rs 2042 per share on the BSE.

The company's current market capitalisation of this small-cap monopoly company stands at Rs 11,057 crore, and the stock has generated an impressive return of around 88 per cent during the past year. It has great potential to deliver multibagger returns in the future.

Business Overview

C E Info Systems Limited, also known as "MapmyIndia," was incorporated in February 1995. The company operates as a data and technology products and platforms company, specialising in offering proprietary digital maps as a service ("MaaS"), software as a service ("SaaS"), and platform as a service ("PaaS"). MapmyIndia is renowned as India’s leading provider of advanced digital maps, geospatial software, and location-based IoT technologies.

Investors must keep this stock on their radar.