Shares of Veritas (India) Limited climbed approximately 2% when it collaborated with Genesys International Corporation Limited and was awarded a significant contract by the Brihanmumbai Municipal Corporation (BMC).

As per the company’s recent regulatory filing, this contract is for developing, implementing, and maintaining an advanced 3D city model using geospatial technology.

This cutting-edge solution will allow for the monitoring of urban growth and change detection, which will play a vital role in urban planning and decision-making.

The value of this project is Rs. 155.85 crore, making it one of the most valuable contracts awarded in the geospatial technology sector.

As a publicly traded company, this information is being shared in compliance with Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Further, another filing listed on regulatory as of February 28 said that the company will hold an Extra Ordinary General Meeting (EGM) on March 21, 2024, through video conference and other audio-visual means.

Veritas (India) Ltd. specialises in the international trade and distribution of chemicals, including petrochemicals, polymers, paper and paper boards, rubber, and heavy distillates.

At 3:30 pm, the shares of Veritas (India) Ltd. were locked on a 2% upper circuit at Rs 950.55 on NSE.