Affle India hit upper circuit on winning contract from Singapore Government

The share price of Affle (India) Ltd hit its upper circuit on August 26, 2020, and made a new 52-week high after the company announced that it has won the contract from Singapore Government to build a ‘digital & cloud-based commuter survey platform’ for the countries’ Land Transport Authority (LTA).

The total value of the contract is estimated to be over US$1 million and it entails the company using its mobile marketing platforms to enable interactive surveys for citizens in Singapore to drive LTA’s objective of building a people-centred land transport system.

Speaking on the announcement, Anuj Khanna Sohum, Chairman, MD & CEO at Affle stated that the win is a significant validation of the company’s Affle 2.0 verticalisation strategy and will strengthen its long-term growth trend.

Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions, and transactions through relevant mobile advertising.

The stock of Affle India was locked at its upper circuit of 5 per cent after which, the trading was suspended at Rs 2,943.35 per share, up by 5 per cent or Rs 140.15 per share. The stock’s 52-week high is Rs 2,943.35 and the 52-week low is Rs 779.35 on BSE.