Geometric spurts on inking application maintenance contract with Volvo Cars

10 Jun 2014

Geometric is currently trading at Rs. 149.70, up by 8.10 points or 5.72% from its previous closing of Rs. 141.60 on the BSE.

The scrip opened at Rs. 140.80 and has touched a high and low of Rs. 150.90 and Rs. 140.75 respectively. So far 311259 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 155.25 on 28-May-2014 and a 52 week low of Rs. 61.40 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs. 151.75 and Rs. 138.00 respectively. The current market cap of the company is Rs. 940.09 crore.

The promoters holding in the company stood at 38.90 % while Institutions and Non-Institutions held 4.68 % and 56.42 % respectively.

Geometric, a leader in Product Lifecycle Management (PLM), Global Engineering Services, and Offshore Software Product Development (OSPD) solutions and technologies, has signed an application maintenance contract with Volvo Cars, Sweden covering major applications from computer aided design (CAD) and Product Lifecycle Management (PLM) landscape.

Since 2010, the company has been partnering with Volvo Cars for their global engineering and manufacturing, and today extended its application maintenance services (AMS) engagement to include additional CAD and PLM applications for new product development and manufacturing engineering.

Geometric will deploy its proven application maintenance services framework, AMS4E based on well defined 4E methodology, which is designed to enable, ensure, enhance and evolve the targeted PLM, engineering IT and manufacturing IT applications to deliver value to Volvo. The company will also leverage its extensive understanding of Volvo’s product development IT landscape combined with its excellent ISV relationships and experience in PLM, to support Volvo’s new product development programs.

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