Goldstone Tech hits UC

With less than 3000 shares changing hands, in the opening bell itself, Goldstone Technologies, a business intelligence and IT services company, within minutes of opening, hit the 5% UC of the day at Rs.59.86 where is remains frozen. Over 36k pending buy orders are seen on the counter. Its 2-week average volume is less than 8k. Its 52-week high is at Rs.78.25.

The stock price hit the UC, reacting to the news that it has formed a JV with Germany-based, Quantron, a specialist in sustainable freight and passenger transport. This JV will host and enable the digital platform for Quantron’s 360-degree ecosystem Quantron-as-a-Service (QaaS).

The JV will operate out of Augsburg, in Germany and from Hyderabad, with plans to set up a US entity in Q3 of 2023.

Target markets are Europe, the USA, India, and the Middle East with Quantron and ETO Motors being the first customers. Both parties are planning to invest over 20 million Euros in the next 36 months into these platforms.