Introduction:
Leading tech firm has decided to focus on its core B2B and B2B2C businesses, which generate the bulk of its revenue. The company reversed its earlier decision to invest in a new venture, boosting investor confidence and stock prices.
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Share price movement of MapmyIndia:
On December 9, 2024, C.E. Info Systems Ltd (MapmyIndia) opened at ₹1,640.20, up 0.29% from its previous close of ₹1,646.60. The stock reached a high of ₹1,945.00 (18.18%) and a low of ₹1,636.90. By 3:41 PM, it traded at ₹1,909.95, a 15.99% increase, with a market cap of ₹10,390.79 crore.
MapmyIndia Focuses on Core B2B and B2B2C Businesses:
MapmyIndia announced its decision to focus on its core B2B and B2B2C businesses, which contribute over 99% of its revenue. The company plans to continue investing in these segments for future growth.
MapmyIndia’s stock surged today following the company’s announcement that it would not proceed with its planned investment in a new company. The decision reverses an earlier move that had caused concerns among investors, leading to a dip in the stock price.
Previously, the company had revealed intentions to create a new entity and make investments, which raised questions about the allocation of resources. The uncertainty surrounding the move contributed to a drop in MapmyIndia’s stock value in recent days.
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In today’s announcement, MapmyIndia confirmed its focus would remain on its core B2B and B2B2C businesses, which generate the majority of its revenue. The company’s leadership reassured shareholders, including minorities, that the decision would ultimately benefit long-term growth and stability.
Recent news on MapmyIndia:
December 04, 2024, MapmyIndia CEO Rohan Verma announced a shift in plans for the company’s B2C venture. Verma opted to fund the Rs 35 crore investment personally, addressing concerns from minority investors about the spin-off’s impact.
Stock performance of MapmyIndia for Period of 1 week, 6 months and 1 year:
Over the past week, C.E. Info Systems Ltd (MapmyIndia) saw a decline of 2.68%. The company has experienced a 17.0% drop over the past six months and a 24.6% decrease over the last year, reflecting a challenging performance period.
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Shareholding pattern of MapmyIndia:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 51.70% | 52.00% | 52.90% |
| FII | 6.40% | 6.40% | 6.70% |
| DII | 5.80% | 5.80% | 4.70% |
| Public | 36.10% | 35.90% | 35.60% |
About MapmyIndia:
C.E. Info Systems Limited (MapmyIndia) (NSE: MAPMYINDIA) is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies. Founded in 1995, the company offers MaaS, SaaS, and PaaS solutions for businesses and consumers.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
