Ceinsys Tech shares rise 5%, hit upper circuit; here's why

Shares of Ceinsys Tech were stuck in the upper circuit on Wednesday after the computers and software consulting player after the firm said it has received further extension for three of the major projects from State Water and Sanitation Mission (SWSM), Uttar Pradesh. The estimated amount of the work order is Rs 107.07 crore. 

The company has received further extension up to March 31, 2026. Ceinsys Tech shares rose 5% to Rs 1065.80 in the current session against the previous close of Rs 1015.05. Market cap of the firm stood at Rs 1,901 crore.

"Ceinsys Tech has been awarded further extension for three of the major projects from State Water and Sanitation Mission (SWSM), Uttar Pradesh as Consultant for Third Party Inspection (TPI) and Monitoring of Physical and Financial Progress through a Quality and Cost Based Selection (QCBS) process for various Rural Water Supply Projects for three clusters i.e. Lucknow, Devipatan and Chitrakoot. Below is the extension timeline for each cluster along with amount of work order for the extended duration estimated by Company based on the project cost estimates," said the firm in a communication to bourses. 

Ceinsys Tech is primarily dealing in providing Enterprise Geospatial & Engineering Services and sale of software and power generation.