Ceinsys Tech hit an upper circuit of 5% at Rs 1,903.90 after the company announced that it has received Letter of Intent on 9 January 2024 for for Wainganga Nalganga River Link Project, valued at Rs 381.18 crore.
According to a regulatory filing, the company secured the order from the Vidarbha Irrigation Development Corporation, Executive Engineer, Irrigation and Hydropower Project Investigation Department, Nagpur.The project involves a detailed survey, investigation, hydrology study, design, and estimation of various components such as the main canal, feeder canal, lis, pipeline, tunnels, enroute tanks, PDN, and other relevant structures. The scope of work is aimed at preparing the Detailed Project Report (DPR) for the Wainganga Nalganga River Link Project, which spans across the districts of Nagpur, Wardha, Yavatmal, Amravati, Akola, Washim, and Buldhana in Maharashtra.
The company has been given a time frame of six months to complete the project.
Ceinsys Tech is primarily dealing in providing enterprise geospatial & engineering services and sale of software and electricity.
The companys consolidated net profit soared 150% to Rs 11.65 crore in Q2 FY25 as against Rs 4.66 crore posted in Q2 FY24. Net sales was at Rs 90.04 crore in Q2 FY25, registering a growth of 54.5% year on year.
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