Ceinsys Tech Shares Jump 1.49% After Securing New MRSAC Work Order

Nagpur, November 20: Ceinsys Tech share price is witnessing positive investor demand today after it announced a new MRSAC work order. As of 1:30 PM, Ceinsys Tech shares were up by 1.49%, or 17.90 points and were trading at ₹1,223.10. Until now, the shares have traded within a range of ₹1,255 and ₹1,180. The traded volume for the Ceinsys Tech stock stood at 79.90 thousand shares, with the company’s market cap at ₹2,150 crore. The shares have their 52-week high at ₹2,105 and their 52-week low at ₹1,090.85.

Ceinsys Tech Limited (NSE: CEINSYSTECH, BSE: 538734) is an Indian company that is a technology solutions provider. It specialises in Geospatial Services, Engineering Solutions, and Digital Enterprise Services. The company is part of the Meghe Group.  It uses digital technologies to offer solutions for major infrastructure and industrial sectors worldwide. The company was established in 1998, and is headquartered in Nagpur, Maharashtra.

Shares Rise After Company Announces New MRSAC Work Order

The rise in the share price comes after the company announced that it has secured an additional work order from the Maharashtra Remote Sensing Application Centre (MRSAC). It announced receiving the order on November 19, which is valued at ₹1.86 crore including GST. The order from MRSAC is for the Detailed Soil Survey and Mapping under the National Soil Mapping Programme (NSMP) for Gondia and part of Nashik district. With this additional order, the total value of NSMP work orders from MRSAC has increased to ₹5.04 crore. The execution timeline for the project is 4 months.

Investor Takeaway

Ceinsys Tech’s announcement of a new order worth ₹1.86 crore will add to the company’s revenue for the coming quarter. The additional work order from MRSAC indicates that the company has been executing the previous orders effectively. It also shows that the company has the potential to execute governmental orders successfully. The announcement has boosted investor sentiments, leading to a share price rise. Investors will now hope that the shares can end this week by closing at a higher price tomorrow.

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

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