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HomeMarket NewsMapmyIndia gains on ₹233 crore mapping data deal from overseas client
Shares of the company were up 1.5% following the announcement. They were trading at a price of ₹1,785.00 on the BSE.
Digital mapping firm C.E. Info Systems Ltd (MapmyIndia operator) said on Tuesday it has secured a map data licensing contract worth approximately ₹233 crore from a private sector international client.
The company did not disclose the name of the client, stating that it is "competitive sensitivitive data."
The project, classified as a domestic-use map licensing deal, will be executed over a period of seven years, the company said in a regulatory filing.
The order is not classified as a related-party transaction, and promoters or group entities have no financial interest in the awarding party, MapmyIndia added.
Shares of the company were up 1.5% following the announcement. They were trading at a price of ₹1,785.00 on the BSE.
MapmyIndia, known for its digital maps and navigation technologies under the Mappls brand, supplies location-based data and services to enterprises and governments across India and overseas.
