Genesys Int shares soar 20% on Quikr investment

MUMBAI: Shares of technology firm Genesys International Corporation surged 20 per cent to touch its highest trading permissible limit for the day after it said online classified company Quikr is making an investment in Genesys' venture A N Virtual World Tech.

As per reports, Quikr is investing USD 10 million in WoNoBo (A N Virtual World Tech Ltd), a mapping platform.

The stock zoomed 20 per cent to Rs 69.30 -- its upper circuit limit -- on BSE.

On NSE, the stock rallied 19.93 per cent to Rs 68.60.

According to Genesys International's filing to BSE yesterday, Quikr is making an investment in Genesys' venture, A N Virtual World Tech Ltd.

Genesys, a leading Indian geo-spatial and mapping services company sponsored WoNoBo, a unique immersive location-based services platform which has helped bring millions of small businesses online and also represents the single-largest unique real estate dataset of all major cities of India.

This investment by Quikr is a strategic move as it deepens its offerings in several verticals and consolidates its position in the online classifieds industry, the filing added.