Genesys Intl Corp slips on profit booking; up over 94% in one year

Genesys International Corporation fell 4.20% to Rs 535, as the count witnessed some bit of profit booking.

The stock had advanced 10.65% in the past three sessions to end at 558.45 yesterday, from its recent closing low of Rs 504.70 recorded on 14 November 2022.

In the past one year, the stock has zoomed 94.36% while the benchmark Sensex has added 3.07% during the same period.

On the technical front, the stock's daily RSI (relative strength index) stood at 50.800. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock is trading below its 50-day and 100-day simple moving average (SMA) placed at 547.54 and 566.07, respectively. It has, however, managed to trade above its 200-day SMA placed at 534.72.

In an exchange filing made yesterday, Genesys International said that it has partnered with UNL Global to create a hyperlocal location technology platform powered by a high-accuracy 3D digital map of India and bring joint geospatial and mapping solutions to the Indian market.

In joining forces, Genesys and UNL will be leveraging their individual strengths to build a full-stack solution, combining Genesys' high-quality and high-definition location data of key Indian cities together with UNL's smart 3D geocell-based micro-location technology and location services.

The two companies will also collaborate on developing industry solutions across industry verticals including e-commerce, logistics, last-mile delivery, and mobility.

Sajid Malik, CMD of Genesys, said, Genesys has taken the initiative to develop highly accurate 3D 'Digital Twin' Maps in India, which will spearhead the transformation in map usage in India.

We are pleased to be partnering with UNL, bringing this vision forward. This partnership will go a long way in developing last-mile solutions for Indian cities, which will improve delivery efficiency and benefit customers in logistics and e-commerce.

Genesys is an advanced mapping solutions company. The services and solutions of Genesys International encompass technologies of 2D/3D mapping, HD mapping for autonomous driving, and artificial intelligence/machine learning for varied applications and industries, including urban development, telecom, disaster management, agriculture, navigation, etc.

The company reported 14.80% fall in consolidated net profit to Rs 4.78 crore despite a 18.70% rise in sales to Rs 37.38 crore in Q2 FY23 over Q2 FY22.

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