During Friday’s trading session, shares of a company engaged in the business of automobile safety and GPS solutions in the automobile sector hit a 5 percent upper circuit on BSE, after the company announced engagement with Hyundai Moto.
With a market capitalisation of Rs. 38 crores, the shares of Containe Technologies Limited hit a 5 percent upper circuit at Rs. 60.5, as against its previous closing price of Rs. 57.62. The stock has delivered negative returns of around 36 percent in one year, but has gained by more than 12 percent in the last one month.
What’s the News
According to the latest regulatory filings on the BSE, Containe Technologies Limited announced its engagement with Hyundai Motor India Limited for the installation of a Vehicle Location Tracking Device with panic buttons. These devices will be installed through authorised dealerships of Hyundai Motor India Limited in the following models/variants: Aura E CNG and Aura S CNG.
Previous Updates
23rd September 2024: Containe Technologies was appointed as the Technology Partner of Shokan Auto Connected Middle East LLC, a Dubai-based Company. The two-year partnership covers the design, development and manufacturing of a connected speed-limiting device and Keyless Engine Start in the Middle East and MENA Region.
Financial Performance
Containe Tech reported a significant growth in its revenue from operations, showing a year-on-year rise of around 55 percent from Rs. 5.6 crores in H2 FY24 to Rs. 8.66 crores in H2 FY25. Similarly, its net profit increased during the same period from Rs. 0.34 crores to Rs. 0.4 crores, representing a growth of around 18 percent YoY.
About the Company
Containe Technologies Limited is primarily involved in the business of design, development, manufacturing and service of Vehicle Speed Limiting Devices (VLD), Vehicle Location Tracking Devices (VLTD).
Written by Shivani Singh
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