Ceinsys Subsidiary Receives Purchase Order for Beta Development of Hybrid Power Transfer Case
Ceinsys Tech Limited has announced that its wholly owned subsidiary, Technology Associates Inc., located in the United States, has secured a significant Purchase Order. The contract, awarded by Emotiv Mobility, LLC of the USA, pertains to the Beta development of a Hybrid Power Transfer Case (HPTC).The total value of the Purchase Order stands at Rs 4,07,12,250.00 (Rupees Four Crore Seven Lakh Twelve Thousand Two Hundred Fifty Only), which is equivalent to US $ 4,28,550.
The contract details indicate that the development work for the HPTC is expected to be executed within a period of four months.
Purchase Order Details
The transaction details are summarized below, outlining the scope and commercial terms of the agreement.| Particulars | Detail |
|---|---|
| Entity Awarding the Order | Emotiv Mobility, LLC, USA |
| Purpose of Contract | Beta development of Hybrid Power Transfer Case (HPTC) |
| Nature of Transaction | International Purchase Order |
| Duration for Execution | 4 Months |
| Consideration Value (INR) | Rs 4,07,12,250.00 |
| Consideration Value (USD) | US $ 4,28,550 |
| Exchange Rate Used | US $ to INR 95.00 |
The report confirms that the awarding entity, Emotiv Mobility, LLC, USA, is not a related party of Ceinsys Tech Limited, making the issue of Arm's length considerations not applicable.
CEINSYS Stock Price Movement
On Friday, shares of Ceinsys Tech Limited slipped by 3.38% to settle at ₹935.5. The equity finished the day trading on a volume of 72,457 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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