Shares of Ceinsys Tech, a small-cap IT firm, extended their bullish trend to the third consecutive trading session on Thursday, October 10, surging 9.5% to a fresh all-time high of ₹944. This brings the total gains over the past three days to an impressive 36%. The surge in the stock price follows a series of recent order wins that propelled the company's order book to surpass ₹1,000 crore for the first time.
Notably, this order book represents 70% of the company's market capitalisation, which stands at ₹1,428.9 crore.
"The company has now confirmed the order book to be executed in excess of ₹1,000 crore. This is a new milestone in the history of Ceinsys, where it has continued to deliver qualitative solutions for its valued customers," the company said in today's regulatory filing.
On October 8, the company received a ₹332 crore letter of award (LoA) from the Maharashtra State Water and Sanitation Mission (SWSM). This contract involves implementing IoT deployment, including design, implementation, and maintenance of a centralized IoT platform for Jal Jeevan Mission projects, with maintenance services lasting five years.
This latest order follows a recent LoA from CIDCO valued at ₹29.2 crore, which includes drone surveys, creation of base maps and utility layers, design and development of an enterprise GIS application, and related software for a bundled solution. It also covers the operational and maintenance programs for the said solution, according to the company's regulatory filing.
Ceinsys Tech is a technology-driven organisation that specialises in offering geospatial, enterprise, and engineering solutions by providing independent opinions, actionable insights, and efficient solutions to customers across private and government enterprises in sectors such as utility, infrastructure, natural resources, and manufacturing.
It boasts a marquee list of customers ranging from large corporations, OEMs, asset management companies, and government bodies in the geospatial and manufacturing sectors, globally.
Ceinsys is also into software product development, artificial intelligence (AI), machine learning (ML), and embedded electronics space through a new vertical formation that focuses on product development activities related to Metaverse, EdTech, Gaming and Mobility.
The Indian geospatial industry is set for rapid growth, fueled by rising government investment in urban planning, infrastructure, disaster management, agriculture, and transport. Key drivers include the increasing demand for geospatial data, the adoption of new technologies, supportive government initiatives, emerging applications, and ongoing investments.
Additionally, all government agencies are utilising geospatial technology to enhance decision-making, and its integration has expanded within national programs.
The stock's remarkable upward trajectory began in March 2023 and has shown no signs of significant pullbacks since then. Over this period, it has surged from ₹127 per share to its current trading value of ₹921.60, marking an extraordinary gain of 626%.
Notably, the stock gained 71% in October 2023 alone. Additionally, in February 2024, it experienced a substantial 38% jump. So far this month, the stock has rallied 30.60%.
Furthermore, the stock has climbed 158% in 2024 so far, building upon an impressive 133.63% increase in the previous calendar year.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
