Geometric soars on pact with DIPRO

Shares rise 8% in morning deals on news that the new alliance will tap Japanese market

Geometric Limited has soared 8% to Rs 74.60 on the back of huge volumes after IT consulting and services firm said that it formed partnership with DIPRO to tap the Japanese market.

“Geometric, a leader in product lifecycle management, global engineering services, and offshore product development solutions and technologies, and DIPRO (Digital Process), a provider of solutions for CAD/CAM/CAE have announced the formation of a Centre of Excellence (CoE) to provide a suite of services to DIPRO’s Japanese customers,” Geometric said in a filing.

The stock opened at Rs 68.50 and hit a high of Rs 75.50 on the Bombay Stock Exchange. As many as a combined 647,285 shares have changed hands on the counter till early noon deals, against an average 100,000 shares that were traded daily in past two weeks.