Ceinsys Tech Share Price Jump 3.93% After Securing Fresh MRSAC Work Order

Nagpur, November 19: Ceinsys Tech’s share price is witnessing strong investor demand today after it announced that it has secured a fresh MRSAC work order. As of 1:15 PM, Ceinsys Tech’s share price was up by 3.93%, or 45.15 points, and was trading at ₹1,193. Until now, the shares have traded within a range of ₹1,205.20 and ₹1,165.15. The traded volume for Ceinsys Tech stock stood at 1.03 lakh shares, with the company’s market cap at ₹2,048 crore. The shares have their 52-week high at ₹2,105 and their 52-week low at ₹1,090.85.

Ceinsys Tech Limited (BSE: 538734) is a tech company that specialises in Geospatial Services, Engineering Solutions, and Digital Enterprise Services. The company uses digital technologies to offer solutions to major sectors. They include Water, Transport, Telecom, Energy, and Automotive. The company was established in 1998 and is headquartered in Nagpur, Karnataka.

Shares Rise After Company Secures Fresh MRSAC Work Order

The rise in the share price comes after the company announced an additional work order from the Maharashtra Remote Sensing Application Centre (MRSAC). The order is valued at ₹1.86 crore and will require the company to do a Detailed Soil Survey and Mapping under the National Soil Mapping Programme (NSMP). Adding the previous work order, the total value of the order stands at ₹5.04 crore. The earlier order was issued on September 29. The order duration is 4 months from the date of execution.

Investor Takeaway

The additional work order received by Ceinsys Tech signals that government entities such as MRSAC have confidence in the company’s business operations. The ₹1.86 crore order will contribute positively to the revenue of the company and potentially add to its profits. Furthermore, the company can leverage this order to secure new orders from government entities. The announcement has boosted investor demand, leading to share price rise.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/c8c547bf-2dd9-4944-a2ec-75fb01d7258c.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations