This smallcap stock flew 30% in two days, zoomed 228% in one year; details
Source: Business Standard
Illustration: Binay Sinha
Shares of smallcap firm Ceinsys Tech rallied up to 9.23 per cent on Monday, reaching their all time high at Rs 944 per share after the company announced that its order book crossed Rs 1,000 crore. In the last two trading sessions, the stock has jumped 30.6 per cent.
Ceinsys Tech shares were in demand in the last two trading sessions , as the company bagged an order worth Rs 331.61 crore from the State Water and Sanitation Mission (SWSM) of the Government of Maharashtra has awarded a contract for the appointment of System Integrators (SIs) to deploy IoT solutions.
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This includes the design, implementation, and maintenance of a centralised IoT platform for Jal Jeevan Mission Projects in Maharashtra for Phase II.
Further, in a press release on Thursday, the company said that with this order its order book to be executed is in excess of Rs. 1000 crore.
Ceinsys has recently completed a preferential allotment of equity shares and share warrants, raising a total of $28 million. Additionally, the company has acquired the business assets of the US-based geospatial entity VTS and expanded its presence in the Asia Pacific region by establishing a wholly-owned subsidiary.
“Ceinsys plans to achieve geometric growth, which will elevate the company to new heights by consolidating its position in geospatial, engineering, and tech-enabled services. This strategy will position Ceinsys as a comprehensive solution provider, enabling the design, development, monitoring, and operation of large projects in sectors like water, energy, automotive, architecture, engineering, construction (AEC), and related infrastructure,” the company’s management said in a press release.
Share price history
Ceinsys Tech’s share price has outperformed the market as it surged 134.4 per cent year to date, while gaining 228.3 per cent in the last one year. In comparison BSE Sensex has risen 12.9 per cent year to date and 23.4 per cent in a year.
The company has a total market capitalization of Rs 1,494.56 crore. Its shares are trading at price to earnings valuation of 51.74 times with an earning per share of Rs 16.70.
At 11:49 AM, the stock price of the company advanced by 6.45 per cent at Rs 919.95 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.28 per cent to 81,691.33 level.
First Published: Oct 10 2024 | 11:54 AM IST
