Geometric rose 7.07% to Rs 82.50 at 10:50 IST on BSE after the company today, 11 September 2013, announced the expansion of its strategic partnership with Anark Corporation with an equity investment by Geometric's wholly owned subsidiary.
The announcement was made during trading hours today, 11 September 2013.
Meanwhile, the S&P BSE Sensex was down 54.28 points or 0.27% at 19,942.81.
On BSE, 54,000 shares were traded in the counter as against average daily volume of 67,214 shares in the past one quarter.
The stock surged as much as 12.91% at the day's high of Rs 87 so far during the day. The stock rose 0.38% at the day's low of Rs 77.35 so far during the day. The stock had hit a 52-week high of Rs 125.50 on 8 October 2012. The stock had hit a 52-week low of Rs 61.40 on 2 August 2013.
The stock had underperformed the market over the past one month till 10 September 2013, gaining 0.72% compared with the Sensex's 6.43% rise. The scrip had also underperformed the market in past one quarter, declining 27.21% as against Sensex's 2.86% rise.
The small-cap company has equity capital of Rs 12.66 crore. Face value per share is Rs 2.
Geometric and Anark Corporation, a leading provider of automated 3D CAD visualization solutions, today, 11 September 2013, announced the expansion of their strategic partnership with an equity investment by Geometric's wholly owned subsidiary, Geometric Americas, Inc. The agreement will further extend the companies' capabilities to deliver a world class Model Based Enterprise (MBE) authoring and publishing solution, Anark Core MBEWeb, which is powered by Geometric's Glovius, an easy to use and customizable viewer application that enables downstream users to view high fidelity 3D data from anywhere, anytime.
The companies plan to expand their global sales and marketing collaboration and jointly target enterprise manufacturers within the aerospace, defense, automotive and industrial sectors. This will be achieved through development of a joint product roadmap that will focus on market needs and deliver a highly effective and cost efficient solution for publishing and consumption of 3D documents by users in manufacturing, inspection, and purchasing, Geometric and Anark said in a joint statement.
Manu Parpia, CEO, Geometric said, "We are seeing an increasing need within our customer base for consumption of 3D product data by non-engineering departments, and introduced a multi-platform and extensible visualization solution, Glovius to address it. Our investment in Anark towards our joint solution for MBE will help us address this growing market more effectively. We work closely with engineering teams of global manufacturers providing them with PLM and engineering solutions. The addition of this capability allows the downstream users in our customer organizations to access 3d data with ease".
Stephen Collins, President and CEO of Anark Corporation said, "This new phase of our strategic partnership with Geometric is a key supporting component of Anark's long term growth strategy, as well as its vision of driving customer value via highly effective and cost efficient Model Based Enterprise solutions. The response by Geometric and Anark customers to MBEWeb has been resoundingly positive, and this extension of our technology collaboration with Geometric will provide us with greater resources and a strong channel and integration partner, who shares our commitment to empowering the Model Based Enterprise."
Anark Corporation provides powerful enterprise software and solutions to manufacturing organizations that need to cost-effectively utilize their 3D CAD data and manufacturing information for design collaboration, manufacturing work instructions, visualization, and technical documentation applications.
Geometric's consolidated net profit surged 38.86% to Rs 15.40 crore on 5.31% growth in net sales to Rs 260.27 crore in Q1 June 2013 over Q4 March 2013.
Geometric is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services, Product Lifecycle Management (PLM) solutions, Embedded System solutions, and Digital Technology solutions enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.
Powered by Capital Market - Live News
