In Friday’s trading session, this smallcap stock which is India’s leading provider of advanced digital maps, geospatial software has jumped 5 percent after a strategic collaboration with Qualcomm to boost the “Make in India” solutions for the automotive industry.
Price Action
With a market capitalization of Rs 8,983.37 crores, the shares of C.E. Info Systems Limited reached a peak of Rs 1,773.80 apiece. They are trading at an upside of 5 percent compared to the previous day closing price of Rs 1,650.60 per equity share.
What Happened
The partnership between Qualcomm Technologies and MapmyIndia aims to develop advanced connectivity and telematics solutions for both four-wheelers and two-wheelers. This will be done by combining Qualcomm’s Snapdragon®
Digital Chassis™ solutions with MapmyIndia’s expertise.
MapmyIndia will use Qualcomm’s platforms to develop high-quality, but reasonably priced connectivity solutions for mid- and low-tier vehicles with an emphasis on convenience and safety. The combination of Qualcomm’s Car-to-Cloud Services with MapmyIndia’s MAPPLS will create a software-defined vehicle framework, improving user experience through customized, user-friendly services.
About the Company
C.E. Info Systems is India’s leading provider of advanced digital maps, geospatial software, and location-based IoT technologies. Mappls by MapmyIndia, India’s homegrown maps and navigation app, has ranked as the No. 1 free app across all categories on the Apple iOS App Store, as well as the top Maps & Navigation app. Google Maps is ranked No. 7.
Financials
With a 5-year Compound Annual Growth Rate (CAGR) of 22.91 percent in revenue and 31.97 percent in net profit, C.E. Info Systems Ltd. has shown impressive financial performance. Additionally, the company has a minimal debt profile and has no promoter pledge.
Written by Shwetha Sairam
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