Soundbox manufacturing company bags a new order worth Rs 100 crore from PhonePe Pvt Ltd
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 532 per share.
On Wednesday, shares of CWD Ltd gained 4.10 per cent to an intraday high of Rs 1,105 per cent from its previous closing of Rs 1,061.45 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 380 crore.
CWD Limited, a prominent Information Communication Technology firm, has entered into a strategic partnership with PhonePe Pvt Ltd, India's leading fintech platform. The companies have signed a Master Supply Agreement (MSA) valued at Rs 100 crore over the next two years. This collaboration aims to drive the development and manufacturing of the revolutionary Sound Box, a device designed to enhance digital payment experiences.
The Sound Box, a groundbreaking payment solution, has transformed the way merchants accept and verify UPI transactions. By providing audible confirmation in multiple languages, the device eliminates the need for merchants to constantly monitor their mobile devices. This innovative feature has significantly contributed to financial inclusion and aligns with the government's vision of a cashless society. Through this partnership, CWD Limited will be responsible for the complete design, development and manufacturing of the Sound Box, ensuring its high quality and timely delivery to PhonePe to meet the increasing demand for this innovative 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 gave multibagger returns of over 100 per cent from its 52-week low of Rs 532 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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