Shares of Ceinsys Tech, a small-cap IT company, have been on a strong rise for three straight days, jumping by 9.5% on October 10 to reach a new all-time high of ₹944. Over just three days, the stock has surged by 36%, driven by big recent orders that pushed its total order book beyond ₹1,000 crore for the first time.
Order Book Tops ₹1,000 Crore
The company’s total order book now makes up 70% of its market value, which is ₹1,428.9 crore. In a filing, Ceinsys Tech stated, “Reaching a ₹1,000 crore order book is a major milestone for us as we continue to deliver quality solutions to our customers.”
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Big Orders Boost Growth
On October 8, Ceinsys Tech won a ₹332 crore contract from the Maharashtra State Water and Sanitation Mission (SWSM) to install IoT systems for the Jal Jeevan Mission project over five years. Another recent win includes a ₹29.2 crore contract from CIDCO for drone surveys, map creation, and developing a GIS application with maintenance services.
Expanding Tech Solutions
Ceinsys Tech is known for offering geospatial and engineering solutions across multiple sectors like utilities, infrastructure, and manufacturing. The company is also expanding into artificial intelligence (AI), machine learning (ML), and software development for new areas like the Metaverse, EdTech, Gaming, and Mobility.
Geospatial Industry Growth in India
India’s geospatial industry is growing fast, supported by increased government spending on urban planning, infrastructure, and agriculture. The rising need for geospatial data and advanced technology is driving this growth.
Stock Soars 600% Since March 2023
Ceinsys Tech’s stock has seen a huge rise since March 2023, climbing from ₹127 to ₹944, a jump of over 600%. In October 2023 alone, it rose 71%, and overall in 2024, it has already gained 158%, following last year’s 133.63% increase.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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