Micro-cap stock jumped 12 percent in the day’s trade after it announced a partnership with OutSystems which claims to be the most powerful low-code system on the planet, to bring a high-performance low-code platform to enterprises in India.
At 2:30 p.m. the shares of Cambridge Technology Enterprises Limited were trading at Rs. 73.50, up 8.97 percent from its previous day’s close price of Rs. 67.45 and its market capitalization is Rs.144 Crores.
As per the company’s filing on BSE, Cambridge Technology Enterprises has partnered with OutSystems, to bring a high-performance low-code platform to enterprises in India.
OutSystems claims to be the most powerful low-code system on the planet, which provides tools for companies to develop, deploy, and manage omnichannel enterprise applications.
Saravanan Subramaniam, RVP, APAC Channels & Alliances at OutSystems said that the collaboration will further enhance Cambridge’s capabilities in the market helping their customers reduce the time and cost of application development and modernization efforts. Together, we can offer enterprises the freedom to think big and innovate with no limits.
The company’s revenue increased by 2.53 percent from Rs. 109.47 Crores in FY22 to Rs. 112.2 Crores in FY23, accompanied by increasing profits of Rs. 8.81 Crores to Rs. 9.8 Crores.
The company reported a return on equity (ROE) of 8.91 percent and a return on capital employed (ROCE) of 9.47 percent, the company is making decent returns over its equity and capital employed, as it is struggling to increase its revenue from operations over the years.
Cambridge Technology Enterprises Limited is a global technology services company, providing various IT services, from building entire infrastructure or platforms to solving complex IT challenges and it also helps businesses accelerate their digital transformation and become AI-first businesses.
Written by: Bharath K.S
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