C.E. Info Systems Ltd , popularly known as MapmyIndia, has announced a significant business development that has caught the attention of investors. The company has secured a substantial map data licensing contract worth ₹233.00 crore from an undisclosed international client.

Contract Details

The newly acquired contract involves a domestic-use project that will span over a period of seven years. This long-term engagement underscores the client's confidence in MapmyIndia's mapping capabilities and data quality.

Market Response

The announcement of this lucrative deal has been well-received by the market. Following the news, MapmyIndia's shares experienced a positive movement, rising by 1.50% in trading.

Implications for MapmyIndia

This contract represents a significant milestone for MapmyIndia:

• Revenue Boost: The ₹233.00 crore deal is likely to contribute substantially to the company's revenue stream over the next seven years.
• International Recognition: Securing a contract with an international client reinforces MapmyIndia's position as a global player in the mapping and geospatial data services industry.
• Long-term Stability: The seven-year duration of the project provides a stable source of income and allows for long-term planning and resource allocation.

Conclusion

The securing of this major contract by MapmyIndia demonstrates the company's strong market position and the growing demand for its mapping services. As the project unfolds over the coming years, it will be interesting to observe how this deal influences MapmyIndia's financial performance and market standing in the geospatial technology sector.

CE Info Systems Ltd. , the parent company of MapmyIndia, witnessed a significant drop in its share price following substantial block deals on the National Stock Exchange (NSE). The stock fell more than 8% as approximately 5.3% of the company's equity changed hands in transactions valued at ₹52.55 crore.

Block Deal Details

The identities of the buyers and sellers involved in these block deals remain undisclosed, adding an element of mystery to the transactions.

Promoter Stakes

CE Info Systems has two prominent promoters with significant stakes in the company:

1. Rakesh Kumar Verma
2. Rashmi Verma

While the exact percentages of their holdings are not provided in the current data, their substantial ownership underscores the importance of monitoring any changes in promoter stakes.

Market Impact

The large volume of shares traded in these block deals has evidently influenced market sentiment, leading to the sharp decline in CE Info Systems' stock price. Such significant movements often attract investor attention and may lead to increased scrutiny of the company's fundamentals and future prospects.

About CE Info Systems

CE Info Systems Ltd. is better known by its consumer brand, MapmyIndia. The company is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies. Their solutions cater to various sectors, including automotive, government, and enterprise markets.

Investors and market analysts will likely keep a close watch on CE Info Systems in the coming days to gauge any potential impact of these block deals on the company's stock performance and to see if any further details emerge regarding the parties involved in the transactions.