IT stock jumps 5% after it partners with Qualcomm to develop advanced automotive solutions

Published 17-01-2025, 01:00 pm
© Reuters.  IT stock jumps 5% after it partners with Qualcomm to develop advanced automotive solutions

In Friday’s trading session, this smallcap stock which is India’s leading provider of advanced digital maps, geospatial software has jumped 5 percent after a strategic collaboration with Qualcomm (NASDAQ:QCOM) to boost the “Make in India” solutions for the automotive industry.

Price Action (WA:ACT)

With a market capitalization of Rs 8,983.37 crores, the shares of CE Info Systems Ltd (NS:CEIF) reached a peak of Rs 1,773.80 apiece. They are trading at an upside of 5 percent compared to the previous day closing price of Rs 1,650.60 per equity share.

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What Happened

The partnership between Qualcomm Technologies and MapmyIndia aims to develop advanced connectivity and telematics solutions for both four-wheelers and two-wheelers. This will be done by combining Qualcomm’s Snapdragon®

Digital Chassis solutions with MapmyIndia’s expertise.

MapmyIndia will use Qualcomm’s platforms to develop high-quality, but reasonably priced connectivity solutions for mid- and low-tier vehicles with an emphasis on convenience and safety. The combination of Qualcomm’s Car-to-Cloud Services with MapmyIndia’s MAPPLS will create a software-defined vehicle framework, improving user experience through customized, user-friendly services.

About the Company

C.E. Info Systems is India’s leading provider of advanced digital maps, geospatial software, and location-based IoT technologies. Mappls by MapmyIndia, India’s homegrown maps and navigation app, has ranked as the No. 1 free app across all categories on the Apple (NASDAQ:AAPL) iOS App Store, as well as the top Maps & Navigation app. Google (NASDAQ:GOOGL) Maps is ranked No. 7.

Financials

With a 5-year Compound Annual Growth Rate (CAGR) of 22.91 percent in revenue and 31.97 percent in net profit, C.E. Info Systems Ltd. has shown impressive financial performance. Additionally, the company has a minimal debt profile and has no promoter pledge.

Written by Shwetha Sairam

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