Suyog Telematics gets license to install cellular equipment in monorail stations

The purpose of the license is for the coverage of a wider market, increase in revenue, profits, etc. The license is valid for 6 years from the date after competition of the fitment period.

Jan 18, 2019 04:01 IST India Infoline News Service

Suyog Telematics
Suyog Telematics has successfully obtained license from Mumbai Metropolitan Region Development Authority (MMRDA) for installation of cellular equipment across all 17 monorail stations of Mumbai.

The monorail stations chosen are Chembur, VNP & RC Marg Junction, Fertiliser Township, Bharat Petroleum, Mysore colony, Bhakti park, Wadala Depot, GTB Nagar, Antop Hill, Acharya Atre Nagar, Wadala Bridge, Dadar, Naigaon, Ambedkar Nagar, Mint Colony, Lower PareI, Gadge Maharaj chawk, and selected 200 piers along Monorail corridor. The company announced the news in an exchange filing on Thursday.

The purpose of the license is to cover a wider market and also to increase revenue and profits. The license is valid for 6 years from the date after competition of the fitment period.

Suyog Telematics Limited is an India-based telecommunication infrastructure provider. The company provides telecommunication products and services and is engaged in the other machinery and equipment renting business.

Suyog Telematics Ltd is currently trading at Rs219.85 up by Rs10.45 or 4.99% from its previous closing of Rs209.40 on the BSE.

The scrip opened at Rs219.50 and has touched a high and low of Rs219.85 and Rs219.50 respectively. So far 124 (NSE+BSE) shares were traded on the counter.

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