MapmyIndia makes stellar debut on NSE

192
2
MapmyIndia makes stellar debut on NSE

MapmyIndia or CE InfoSystems shares made a stellar debut on the bourses on Tuesday with a premium of over 50 per cent. The scrip was listed at Rs 1,565 on the NSE against the issue price of Rs 1,033. The company made its debut at a price of 1,581 on the BSE.

Some profit bookings were seen in the stock post listing. Shares of the company traded at Rs 1340 on the NSE and at Rs 1,343 on the BSE at around 11.10 am IST.

Hem Securities said he had a positive view on the stock as it has unique business with no listed peers, good financials with no debt and strong growth prospects, and that's why he shared his advice with investors, Mohit Nigam, head-PMS. The company has a strong business model, experienced management and strong presence in multiple areas. Some of their customers include Airtel, Yulu, PhonePe, HDFC Bank, Hyundai and GSTN. We advise investors to hold this stock for the long term and new investors can add this stock in dips. Nigam said that the range of Rs 1,250 -- 1,300 can be an attractive buy in MapmyIndia.

CE Info Systems is a data and technology company that offers proprietary digital maps as a service SaaS and platform as a service PaaS They are India's leading provider of advanced digital maps, geospatial software and location-based IoT technologies.

The company has developed a strong moat by capitalising on their early mover advantage, full stack product offerings, continuous innovation and robust sustainable business model, as well as pioneering digital mapping in India in 1995.

Research analyst, Marwadi Shares and Finance said that the valuations are an absolute basis factor in all positives post listing. The strategy of a company to drive expansion in international markets and the geospatial sector could be a game-changer for a company and its investors in the long term. We recommend investors to book partial profit and hold the remaining shares for long-term investment. According to Santosh Meena, head of research at Swastika Investmart, the company is doing well and its business model is sustainable.

The new edge technologies, such as SaaS, PaaS, and MaaS platform providers, are poised to have a bright future. Long-term investors who got allotments should continue to hold the stock. New investors can look for buying in the dips, Meena said.