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IT stock hits 5% upper circuit after it receives order worth ₹381 Cr from Vidarbha Irrigation Development Corp

IT firm has received a ₹381.18 crore contract for the Wainganga Nalganga River Link Project, involving detailed surveys, hydrology studies, and infrastructure design across multiple Maharashtra districts, with a six-month completion period.
IT stock hits 5% upper circuit after it receives order worth ₹381 Cr from Vidarbha Irrigation Development Corp
IT stock hits 5% upper circuit after it receives order worth ₹381 Cr from Vidarbha Irrigation Development Corp

Introduction:

Leading IT firm has secured a major contract for the Wainganga Nalganga River Link Project. The ₹381.18 crore project involves conducting detailed surveys, hydrology studies, and designing essential infrastructure across several Maharashtra districts, with a six-month timeline.

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Share price movement of Ceinsys Tech:

On January 10, 2025, Ceinsys Tech Ltd. opened at ₹1,870.00, up 3.13% from its previous close of ₹1,813.25. The stock reached a high of ₹1,903.90 (5.00%) and a low of ₹1,861.00. By 10:28 AM, it traded at ₹1,903.90, a 5.00% increase, with a market cap of ₹3,320.62 crore.

Ceinsys Tech Secures ₹381 Crore Project:

Ceinsys Tech Limited has been awarded a Letter of Intent for the Detailed Survey, Hydrology Study, and Design of the Wainganga Nalganga River Link Project. The work, valued at ₹381.18 crore, spans multiple districts in Maharashtra, including Nagpur and Yavatmal.

The project entails surveying and designing canals, pipelines, tunnels, and associated structures for the preparation of the Detailed Project Report (DPR). This significant domestic contract is awarded by the Vidarbha Irrigation Development Corporation, Nagpur, with a timeline of six months.

This award reflects Ceinsys Tech’s expertise in consultancy services. The company has confirmed there are no related-party transactions involved, and no promoter group interest exists in the awarding entity. The contract is set to bolster the company’s project portfolio.

Recent news on Ceinsys Tech:

January 07, 2025, Ceinsys Tech, a leader in geospatial and technology solutions, has rebranded itself as CS Tech AI. This strategic shift highlights the company’s focus on leveraging artificial intelligence to drive innovations in smart infrastructure and utility development.

Ace investor holding in Ceinsys Tech:

Dheeraj Kumar Lohia

Dheeraj Kumar Lohia holds a 1.01% stake in Ceinsys Tech Ltd, amounting to 175,465 shares valued at ₹33.4 crore. His investment highlights confidence in the company’s growth potential and market position.

Stock performance of Ceinsys Tech for Period of 1 week, 6 months and 1 year:

Ceinsys Tech Ltd. has faced a 9.85% decline in the past week. However, the stock has significantly rebounded with a remarkable 236% return over the last six months. Over the past year, the company’s stock has surged by an impressive 348%.

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Shareholding pattern of Ceinsys Tech:

All values in %Sep 2024Jun 2024Mar 2024
Promoter51.90%55.40%55.40%
FII4.30%0.00%0.00%
DII0.00%0.00%0.00%
Public44%45%45%
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About Ceinsys Tech:

Ceinsys Tech Limited (BSE: 538734) was incorporated in 1998 and specializes in providing Enterprise Geospatial, Engineering, and IT solutions. The company serves various sectors, including water, telecom, and automotive, offering turnkey solutions and innovative services across industries.

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.

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