Geometric rose 4.48% to Rs 147.95 at 12:19 IST on BSE after the company announced that it has signed an application maintenance contract with Volvo Cars, Sweden.
The announcement was made during market hours today, 10 June 2014.
Meanwhile, the S&P BSE Sensex was down 108.40 points or 0.42% at 25,471.81.
On BSE, so far lakh shares were traded in the counter as against average daily volume of 1.98 lakh shares in the past one quarter.
The stock hit a high of Rs 150.90 and a low of Rs 140.75 so far during the day. The stock hit a record high of Rs 155.25 on 28 May 2014. The stock hit a 52-week low of Rs 61.40 on 2 August 2013.
The stock had outperformed the market over the past one month till 9 June 2014, surging 22.12% compared with Sensex's 11.25% rise. The scrip had also outperformed the market in past one quarter, jumping 24.27% as against Sensex's 16.7% rise.
The small-cap company has equity capital of Rs 12.75 crore. Face value per share is Rs 2.
Geometric today, 10 June 2014 announced that it has signed an application maintenance contract with Volvo Cars, Sweden covering major applications from computer aided design (CAD) and product lifecycle management (PLM) landscape.
Geometric has been partnering with Volvo Cars for their global engineering and manufacturing needs since 2010, and today extended its application maintenance services (AMS) engagement to include additional CAD and PLM applications for new product development and manufacturing engineering, the company said in a statement.
On signing the contract, Nitin Tappe, COO, Geometric said, "We have a long standing relationship with Volvo, and work with them on several strategic projects. This contract is a testament to our commitment to deliver the best, and Volvo's trust in our ability to consistently bring innovation to their CAD and PLM applications. We look forward to continuing to contribute to Volvo Cars success in the use of PLM and CAD technologies".
In addition to application maintenance, Geometric works with Volvo across multiple projects related to the design and development of complex and large scale CAD and PLM strategic initiatives, and provides offshore support through a dedicated delivery center in Chennai, Geometric said in a statement.
Geometric's consolidated net profit fell 10.75% to Rs 6.72 crore on 0.69% decline in net sales to Rs 273.36 crore in Q4 March 2014 over Q3 December 2013.
Geometric is a specialist in the domain of engineering solutions, services and technologies.
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