Budget 2024: CE Info Systems, Genesys shares soar up to 14% on govt’s plan to digitise land records

Budget 2024: Shares of C.E. Info Systems and Genesys International Corporation rallied on Tuesday's trading session after Finance Minister (FM) Nirmala Sitharaman stated advancements in the agriculture industry by digitising public infrastructure for 6 crore farmers' lands in three years in partnership with states.

The digitisation of public infrastructure for agricultural lands will have far-reaching benefits for farmers, improving productivity, market access, and financial inclusion. For companies like CE Info Systems and Genesys International Corporation, this presents a significant opportunity to expand their services, innovate new solutions, and play a pivotal role in transforming the agricultural landscape of India, said Mohit Gulati, CIO & Managing Partner of ITI Growth Opportunities Fund.

On Tuesday's session, C.E. Info Systems share price surged over 11% to touch an intraday of ₹2,523.95 apiece on BSE. The stock closed at ₹2,452.05 apiece, up 8.40%. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, C.E. Info Systems share price has seen volatile moves in the last few weeks, today prices witnessed positive momentum, however prices are majorly trading in a range of ₹2,300 - 2,700 and next directional move would be seen, once this range is broken.

On the other hand, Bhosale explained that the Genesys International Corp share price has seen strong traction backed by strong volumes, and a higher bottom is in place on the daily chart. ₹740–760 seems like the like the next potential upside, whereas ₹650 seems like a key support. Genesys International Corp shares closed 11.28% higher at ₹707.40 apiece on the BSE. The stock rose 14% to touch an intraday high of ₹724.05.

Talking about each of the company's business Mohit Gulati explained that as a leading provider of digital maps, C.E. Info Systems (MapmyIndia) can play a crucial role in creating detailed maps of agricultural lands, helping in precision farming and resource management. While Genesys International, specialising in geospatial services can provide detailed geospatial data and solutions for land management, urban planning, and resource allocation.

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