Share price of this IT stock hit a new 52-week high at Rs. 604.70 on Thursday, after the company received a service order. At 12:40 p.m. the stock was trading in the green at Rs. 593.80, up by nearly 5.01%.
With a market cap of Rs. 910.3 crore, the shares of Ceinsys Tech Ltd. opened at Rs. 595.45 on February 22nd, compared to its previous closing price of Rs. 565.45.
The company has delivered positive returns of nearly 196.6 percent in the last six months, and over 335.3 percent in the last one year. So far in 2024, it has given positive returns of around 51.97 percent.
According to the recent filings on the BSE, Ceinsys Tech received a service order from Fugro USA Land Inc.
The order received is for the extraction of all assets for 15,581 miles of the New Mexico 2023/2024 Lidar project, amounting to around Rs. 5.26 crore, with a time frame of March 2024 to November 2024.
In terms of financials, the revenue from operations of the company grew by 8.62 percent QoQ from Rs. 58 crore in Q2 FY23-24 to Rs. 63 crore in Q3 FY23-24.
Further, the company also witnessed an increase in net profit on a quarter-on-quarter basis by nearly 100 percent to Rs. 10 crore in Q3 FY23-24 from Rs. 5 crore in Q2 FY22-23.
Incorporated in 1998, Ceinsys Tech Limited is a part of the large conglomerate – Meghe Group and offers solutions in the Geospatial, Enterprise & Engineering and mobility services in the ITES space.
Written by Shivani Singh
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