Geometric surges on entering into partnership pact with DIPRO

20 Jun 2012 Evaluate

Geometric is currently trading at Rs. 69.40, up by 1.50 points or 2.21% from its previous closing of Rs. 67.90 on the BSE.

The scrip opened at Rs. 67.65 and has touched a high and low of Rs. 70.50 and Rs. 67.60 respectively. So far 22126 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 80.90 on 13-Apr-2012 and a 52 week low of Rs. 34.75 on 19-Aug-2011.

Last one week high and low of the scrip stood at Rs. 70.55 and Rs. 66.00 respectively. The current market cap of the company is Rs. 429.32 crore.

The promoters holding in the company stood at 37.46% while Institutions and Non-Institutions held 12.36% and 50.18% respectively.

Geometric, a leader in Product Lifecycle Management (PLM), Global Engineering Services, and Offshore Product Development (OPD) solutions and technologies, has entered into a partnership with DIPRO (DIGITAL PROCESS), a leading global provider of solution services for CAD/CAM/CAE and BOM/PDM, for the formation of a Center of Excellence (CoE) to provide a suite of services to DIPRO’s Japanese customers.

Under the agreement, the two companies would jointly offer PLM, CAD/CAM/CAE, and engineering services. To further strengthen the quality of services to customers, the companies have agreed upon an exchange of human resources, whereby Geometric’s employees will take technology expertise to Japan, while DIPRO’s employees will bring in automotive domain knowledge in context of Japanese culture to the offshore centre.

Besides, to ensure reliable execution under the CoE, the two companies have mutually agreed upon processes and frameworks leveraging Geometric’s extensive experience in global engineering and manufacturing services and DIPRO’s understanding of the needs of Japanese manufacturers.

Further, Geometric and DIPRO have been working together for over ten years, primarily for the automotive sector, including part manufacturers. In November 2011, they signed a Memorandum of Understanding (MoU) to form a CoE to jointly serve PLM and other global engineering needs of Japanese manufacturers. They have now defined set processes and frameworks to address these customers’ product development needs.

Peers
Company Name CMP
TCS 3921.00
Infosys 1425.80
HCL Tech. 1358.05
Wipro 458.25
Tech Mahindra 1263.55
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