Genesys International Corporation was locked at 20% upper circuit at Rs 69.30 at 12:17 IST on BSE after the company said that Quikr, an online cross category classifieds company is making an investment in Genesys' venture A.N.Virtual World Tech.
The company made the announcement after market hours yesterday, 7 October 2015.
Meanwhile, the S&P BSE Sensex was down 219.67 points or 0.81% at 26,816.18.
On BSE, so far 18,000 hares were traded in the counter as against average daily volume of 2,939 shares in the past one quarter.
The stock hit a low of Rs 60 so far during the day. The stock had hit a 52-week high of Rs 79 on 16 October 2014. The stock had hit a 52-week low of Rs 42.05 on 8 September 2015.
The stock had outperformed the market over the past one month till 7 October 2015, surging 26.78% compared with Sensex's 8.6% rise. The scrip had also outperformed the market in past one quarter, jumping 11.92% as against Sensex's 4.03% fall.
The small-cap company has equity capital of Rs 15.22 crore. Face value per share is Rs 5.
Genesys International Corporation did not disclose the financial and other aspects of investment by Quikr in Genesys' venture A.N.Virtual World Tech. The investment by Quikr is a strategic move as it deepens its offerings in several verticals and consolidates its position in the online classifieds industry, Genesys said.
Genesys International Corporation's net profit surged 82.2% to Rs 3.17 crore on 16.8% decline in net sales to Rs 13.28 crore in Q1 June 2015 over Q1 June 2014.
Genesys is one of the leading geospatial and mapping services company in India.
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