Scanpoint Geomatics Limited (BSE: ₹9.24, +5.00%) hit the upper circuit at ₹9.24 as of 10:19 AM today, marking a 5% increase in its stock price. The company has made significant strides by being shortlisted for a prestigious project under the Indian armed forces’ “MAKE-II” and IDDM (Indian Design Development and Manufacturing) initiatives.
This project, aimed at promoting indigenous design, development, and manufacturing capabilities for the armed forces, highlights Scanpoint’s expertise in cutting-edge geospatial solutions. The company’s participation in the Expression of Interest (EOI) floated by a unit of the armed forces, and the subsequent issuance of a Request for Proposal (RFP), underscores its potential role in strengthening the country’s defense sector.
The news of the company being shortlisted for this important defense project has sparked increased investor interest, contributing to today’s stock surge.
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