Shares of CE Info Systems fell over 4.5%, the steepest intraday decline in a week.
- The company approved acquisition of 75.98% of Gtropy Systems Pvt Ltd for Rs 13.5 crore. The indicative time period for completion of the acquisition is 45 days.
- Gtropy Systems, which belongs to IoE and logistics Software-as-a-Service Tech industry, had a turnover of 8.49 crore in FY21 and Rs 2.58 crore in FY2020.
- Gtropy Systems is likely to aid MapmyIndia in expanding IoT and SaaS solutions into CV fleet and OE market by providing route optimization, vehicle tracking, telematics and advanced navigation solutions.
- The company also declared interim dividend of Rs 2 per equity share bearing face value of Rs 2 each, for FY2022. The record date to ascertain the eligible members for the payment of interim dividend will be February 14, 2022.
Source: Bloomberg, Exchange Filing.
Oberoi Realty: No Discussions On Formation Of JV With External Investors For Development Of Overseas Properties
Oberoi Realty Ltd. denied reports regards proposed formation of joint venture by the company with external investors for joint development of overseas properties and equity investment in the company.
- The company informed the exchanges that no such discussions took place.
- The company pared nearly 5% intraday gains following the announcement. Trading volume on the stock was nearly 2.5 times the 30-day average volume, at this time of the day.
- Of the 28 analysts tracking the company, 12 maintained ‘buy’, eight maintained ‘hold’ and eight maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 0.8%.
Winning Streaks: Equitas Holdings, DCB Bank, IRB Infra
- Equitas Holdings rises for the eighth day, on track for the longest winning streak in over 14 months.
- DCB Bank is higher for the eighth straight day, on track for the longest winning streak in over six and a half years.
- IRB Infra rises for the eighth day, on track to the longest winning streak in four years.
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