Shares of this small-cap stock jumped approximately 3 percent in Monday’s trading session after the company successfully bagged an order to adopt a ‘Digital Twin’ in Pune city of Maharashtra for an aggregate value of Rs 35 crores. In the past six months, the company’s stock gained more than 70 percent for its holders.
With a market capitalization of Rs 2,413.36 crores, the stocks of Genesys International Corporation Limited closed their trading session on Monday at Rs 610.35, gaining approximately 3.30 percent as compared to the previous closing levels of Rs 590.75 apiece.
Such bullish share price movements were observed today after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about the receipt of an order worth Rs 35 crores for the adoption of the company’s “Digital twin map stack” in Pune, Maharashtra.
The abovementioned order envisages, for the first time in India, an integration of a 3D Digital Twin with a Command and Control Centre, incorporating various IoT sensors. The same will provide real-time data insights and actionable intelligence to the authorities, enabling them to make informed decisions swiftly and effectively.
The scope of work encompasses a wide range of applications including Fire Rescue, Disaster & Traffic Management, and Property Tax revenue enhancement.
“Energy consumption, waste management, security monitoring, mobility improvements, and infrastructure management are all areas that can be improved through the execution of digital twins. Pune Municipal Corporation will thus become the first city to adopt real-time data visualisation on the ICCC platform, which includes Digital Twin, IOT, Disaster Management and Traffic Management.”, commented Mr. Sajid Malik, CMD of Genesys International Corporation Limited.
Mr. Ashish Kacholia, one of the well-known ace investors based in India, has invested in the mapping services company. As per the latest data available, he holds around 6.19 lakh equity shares of the company equivalent to a 1.57 percent stake.
During the recent financial quarters, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, reported positive movements with the former rising from Rs 33 crores during Q2FY24 to Rs 59 crores during Q3FY24, and the latter, during the same period, transitioned from losses of Rs 3 crores to profits of Rs 16 crores.
Founded in 1983, Genesys International Corporation Limited is engaged in the business of providing geographical information services (GIS) comprising photogrammetry, cartography, remote sensing, data conversion, and other computer-based related services. The company caters to various enterprises, governments, and consumers.
Written by Amit Madnani
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