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In the intraday trade today, shares of C.E. Info Systems, the parent company of geotech company MapmyIndia, rose by 10% to INR 2,488.
This was following the announcement by Finance Minister Nirmala Sitharaman during her Union Budget 2024-25 (FY25) speech that land records in urban areas would be digitized using GIS mapping.
The stock was trading at INR 2,411.95 per share on the BSE in the afternoon trade at 1:29 PM, representing a 6.6% increase from the previous close.
C.E. Info Systems' shares were listed on the BSE in December 2021 at INR 1,581 per share, an impressive 53% premium to the issue price of INR 1,033.
Rohan Verma, CEO, MapmyIndia, said: "A week ago, the digital mapping company was in discussions with partners to expand its products and platforms beyond India, targeting regions in Southeast Asia and the Middle East & North Africa"
About MapmyIndia
Founded in 1995 by Rakesh Verma, MapmyIndia is India’s leader in premium-quality digital map data and APIs, GPS navigation, tracking, location apps, and GIS solutions.
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