IT stock hits 5% upper circuit after signing MoU with Powerhouse TechnologyIT stock hits 5% upper circuit after signing MoU with Powerhouse Technology

Introduction:

Leading IT company has entered into a strategic partnership with MOD3RN Care to participate in Maharashtra’s Cardiovascular Disease Screening Program. This collaboration integrates AI and GE Healthcare hardware for mass screening, aiming to enhance digital health solutions and drive future growth.

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Share price movement of GlobalSpace Technologies:

On February 19, 2025, Globalspace Technologies Ltd opened at ₹15.73, rising 4.94% from its previous close of ₹14.99. The stock hit a high and low of ₹15.73. By 2:38 PM, it traded at ₹15.73, with a market cap of ₹54.06 crore.

GlobalSpace Partners with MOD3RN Care:

GlobalSpace Technologies Limited (GSTL) has signed a Memorandum of Understanding (MoU) with Australia-based MOD3RN Care to participate in Maharashtra’s Cardiovascular Disease (CVD) Screening Program. The collaboration integrates AI technology with GE Healthcare hardware for mass screening, strengthening GSTL’s presence in digital healthcare solutions.

Under the agreement, MOD3RN Care will lead the project while GSTL handles installation, deployment, and technical support. The initiative is valued at approximately USD 400 million (~INR 3,500 crore), with a profit-sharing structure of 60% for MOD3RN Care and 40% for GSTL, transitioning to an equal split in future expansions.

The partnership marks GSTL’s strategic entry into AI-driven healthcare solutions, boosting its growth potential and financial outlook. By leveraging AI-based screening, the company aims to enhance public health infrastructure and establish itself as a leader in India’s digital healthcare transformation.

Recent news on GlobalSpace Technologies:

As of February 12, 2025, Globalspace Technologies Ltd reported a 313.33% surge in net profit to ₹0.62 crore for Q3 FY24. Revenue grew 16.26% to ₹9.08 crore, reflecting strong business momentum compared to the previous year.

Ace investor holding in GlobalSpace Technologies:

Mahendra Girdharilal Wadhwani 

Mahendra Girdharilal Wadhwani holds a 3.27% stake in GlobalSpace Technologies Ltd, owning 1,124,796 shares valued at ₹1.8 crore. His investment highlights confidence in the company’s growth potential and future performance in the evolving digital technology sector.

Stock performance of GlobalSpace Technologies for Period of 1 week, 6 months and 1 year:

GlobalSpace Technologies Ltd has seen a decline in its stock performance, with a 11.1% drop over the past week, 20.4% over six months, and a significant 38.7% decline over the past year, reflecting market challenges.

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Shareholding pattern of GlobalSpace Technologies:

Particulars	Dec 2024	Sep 2024	Jun 2024
Promoter	55.80%	55.80%	55.90%
FII	0%	0%	0%
DII	0%	0%	0%
Public	44.20%	44.20%	44.20%

About GlobalSpace Technologies:

GlobalSpace Technologies Ltd (BSE: 540654) is a HealthTech and EduTech digital platform company specializing in enterprise mobility solutions and digital consulting. It focuses on IT and communication, offering customized software solutions and field force enhancement services to enterprises.

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.