Goldstone Technologies shares were locked in their 5 percent upper circuit limit at Rs 58.95 on April 24 morning after the company said it was setting up a joint Venture (JV) with German e-mobility major Quantron AG.
“The JV will operate out of Augsburg, in Germany, and from Hyderabad, with plans to set up a US entity in Q3 2023,” the company said in an exchange filing.
Goldstone Technologies, as a development partner, will provide the software and manage the integration of the customised platform and Quantron will utilise the digital platform as an enabler for its 360° ecosystem for its customers, the company added.
The JV company will focus on providing various solutions through an artificial intelligence (AI)-supported platform. The addressable market size will be between 150-250 billion euros by 2030, enabling OEM agnostic mobility as a Service (MaaS) Solution. Target markets are Europe, the USA, India, and the Middle East with Quantron, and ETO Motors as the first customers.
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Both sides are planning to invest over 20 million euros in the next 36 months into these platforms, said Goldstone Technologies, which specialises in full-stack business intelligence, data analytics, AI and platform development.
In the December quarter, the company reported a 64 percent rise in net sales at Rs 27.45 crore, while net profit jumped 1,266 percent to Rs 0.51 crore. In the past month, the stock has run up closer to 20 percent, while it has soared over 480 percent in the past three years.
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