C.E. Info Systems Shares Surge 3% After Game-Changing Partnership with Zoomcar

C.E. Info Systems saw a notable rise in its shares during early trading on September 12, following news of Zoomcar's collaboration with C.E. Info Systems, which operates as MapMyIndia. 

By 9:35 a.m. IST, the stock price had climbed to ₹2,118, a 3% increase from its previous closing on the NSE.

Zoomcar announced that the partnership aims to simplify travel in India, allowing users to book vehicles through the Mappls app. Features like 3D junction views and real-time safety alerts for speed and obstacles are included. The company highlighted Mappls' AI-driven platform, which offers personalized travel recommendations, hotel bookings, and itinerary planning.

Rohan Verma, CEO and Executive Director of MapMyIndia, expressed excitement about the partnership: "This collaboration with Zoomcar adds convenience and flexibility for travelers. It's a significant step towards our goal of enhancing the travel experience. We're excited to deliver more value to Mappls users and expand in the travel tech sector."

Earlier this year, on June 26, C.E. Info Systems saw a block deal worth ₹142.60 crore, where Rakesh Kumar Verma, the promoter and managing director, sold shares. In an interview with CNBC-TV18, he clarified that the sale was for philanthropic reasons, and he has no plans for further stake reduction. 

Over the past year, C.E. Info Systems' stock has risen about 28.5%, slightly outperforming the Nifty 50, which gained 25% over the same period.

Meanwhile, electric vehicle manufacturers like JBM Auto and Olectra Greentech saw gains of up to 9% in morning trading on September 12, following the Union Cabinet's approval of the PM E-Drive scheme. The scheme, with a budget of ₹10,900 crore, aims to accelerate EV adoption across India.

The initiative includes subsidies worth ₹3,679 crore to encourage the use of electric two-wheelers, three-wheelers, ambulances, trucks, and other electric vehicles. By 9:44 a.m., shares of JBM Auto had risen 5%, and Olectra Greentech was up nearly 3%. In the two-wheeler market, Ola Electric Mobility remained flat, while TVS Motor Co gained over 1%.

The PM E-Drive scheme also includes plans to establish 88,500 EV charging stations. According to a government statement, the scheme will support the deployment of nearly 25 lakh electric two-wheelers, over 3 lakh electric three-wheelers, and more than 14,000 e-buses. 

An additional ₹4,391 crore is allocated for state transport agencies to purchase e-buses, while ₹3,435 crore will support the battery-operated bus market through the PM-eBus Sewa Payment Security Mechanism. Moreover, ₹500 crore each has been earmarked for e-ambulances and e-trucks.

CE Info Systems Ltd., based in India, specializes in providing digital maps, geospatial software, and location-based Internet of Things (IoT) technologies. The company operates primarily within the "Map Data and Map Data Related Services" segment. Its core offerings include digital map data, GPS navigation systems, location-based services, as well as licensing, royalties, annuity models, and subscription-based products, often customized to meet client needs. 

CE Info Systems delivers digital maps as a service (MaaS), software as a service (SaaS), and platform as a service (PaaS), integrating digital map data, software solutions, platforms, APIs, IoT technologies, and various services. Their solutions cater to tech companies, large enterprises, automotive manufacturers, government agencies, developers, and individual consumers. Additionally, the company offers geographic information system (GIS) and geo-analytics platforms, including products such as Insight and mGIS.