Rs 1,000+ Crore Order Book: Multibagger IT Software Stock Jumps 9.54 Per Cent & Hits 52-Week High On October 16
The company has a market cap of over Rs 1,860 crore with multibagger returns of 340 per cent in just 1 year and a whopping 1,530 per cent in 5 years.
On Wednesday, shares of Ceinsys Tech Limited gained 9.54 per cent and made a new 52-week high of Rs 1,160 per share from its previous closing of Rs 1,058.90. At the closing bell, shares of the company were trading at Rs 1,140.60 per share, up 7.72 per cent.
Ceinsys Tech Ltd is a 1998-founded enterprise specializing in geospatial and engineering services, software, and energy solutions. As an ISO and CMMI-certified company, it's part of the Meghe Group. Its core competencies include designing, managing and analysing geographic data, with a focus on energy systems, water management, product design and robotics. Ceinsys offers a range of services encompassing geospatial solutions like risk analytics, smart city planning and disaster management; as well as mobility solutions spanning from concept development to manufacturing engineering and electric vehicle technology.
Ceinsys Tech Limited has won a substantial contract from the Maharashtra Housing and Area Development Authority (MHADA) to modernize its operations with a comprehensive digital transformation solution. Valued at Rs 27.77 crores, the contract involves designing, developing, and maintaining a suite of applications including a land management system, a digital project management platform, a GIS-based mobile app, a single sign-on portal, a public website, and a content management system. To ensure successful implementation, the project also includes training, capacity building, and ongoing support for three years. This significant domestic win underscores Ceinsys Tech's expertise in digital transformation and its ability to deliver large-scale projects.
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Ceinsys Tech Limited has been experiencing rapid growth, securing contracts worth over Rs 1,000 crore in recent months. Notable projects include a Rs 332 crore contract with SWSM Maharashtra for IoT deployment in Jal Jeevan Mission projects and a Rs 29.2 crore contract with CIDCO for drone surveys and GIS development. This expansion is fueled by strategic investments, such as the USD 28 million funding round and the acquisition of VTS. Additionally, the company has established a subsidiary in the Asia Pacific region to expand its global reach. Ceinsys Tech is committed to providing comprehensive solutions for large-scale projects in geospatial, engineering, and tech-enabled services, contributing to sustainable development and technological advancement both in India and internationally.
The order book of the company as of September 30, 2024, stands over Rs 1,000 crore. The company has a market cap of over Rs 1,860 crore with multibagger returns of 340 per cent in just 1 year and a whopping 1,530 per cent in 5 years. Investors should keep an eye on this IT-software company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.