Shares of geotech company MapmyIndia’s parent entity C.E. Info Systems climbed up to 10% at INR 2,488 in the intraday trade today after finance minister Nirmala Sitharaman during her Union Budget 2024-25 (FY25) speech announced that land records in urban areas will be digitised with GIS mapping.
The stock was trading at INR 2,411.95 apiece at 1:29 PM on the BSE in the afternoon trade, up 6.6% from the previous close.
In December 2021, shares of C.E. Info Systems got listed with a healthy premium of 53% on the BSE at INR 1,581 per share, against the issue price of INR 1,033.
A week ago, the digital mapping company was in discussions with partners to expand its products and platforms beyond India, targeting regions in Southeast Asia and the Middle East & North Africa, CEO Rohan Verma said.
In its 29th Annual Report for FY 2023-24, Verma said, “We are in conversation with our partners to take our products and platforms to geographies outside India, primarily Southeast Asia and the Middle East & North Africa .”
The BSE-listed company’s market capitalisation stood at INR 13,065.41 Cr.
