Why did CE Info Systems (MapmyIndia) shares tumble 9% in trade today?

Shares of CE Info Systems Ltd, the parent company of MapMyIndia, slumped in Thursday's trade, sliding 8.56 per cent to hit a low of Rs 1,785. The drop came after it was reported that digital payments firm PhonePe is likely to offload a 5 per cent stake in the company today at a floor price of Rs 1,750 apiece, lower than the day's low level.

PhonePe owned 1,01,97,966 shares or 18.74 per cent stake in CE Info Systems, as of the end of March. The block deal size is expected to be Rs 476.20 crore, as per CNBC TV18.

MapMyIndia shares registered heavy trading volume on BSE today as around 31.39 lakh shares were last seen changing hands. The figure was significantly higher than the two-week average volume of 2,741 shares. Turnover on the counter came at Rs 561.82 crore, commanding a market capitalisation (m-cap) of Rs 9,847.04 crore.

Last month, CE Info Systems reiterated its FY28 revenue target of Rs 1,000 crore-plus, with 35 per cent EBITDA (earnings before interest, taxes, depreciation and amortisation) margins. This is supported by a strong order book, projected to reach Rs 2,000 crore by April 2028.

Technically, the counter traded lower than the 5-day, 10-, 20-, 30-, 50-day and 200-day simple moving averages (SMAs) but higher than 100-day and 150-day SMAs. Its 14-day relative strength index (RSI) came at 35.07. A level below 30 is defined as oversold while a value above 70 is considered overbought.

"C.E Info systems is bearish on daily charts with strong resistance at Rs 1,954. A daily close below support of Rs 1,773 could lead to a downward target of Rs 1,582 in the near term," said Sebi-registered independent research analyst AR Ramachandran.

The stock has a price-to-earnings (P/E) ratio of 70.10 against a price-to-book (P/B) value of 13.40. Earnings per share (EPS) stood at 25.53 with a return on equity (RoE) of 19.12. According to Trendlyne data, CE Info Systems has a one-year beta of 0.7, indicating low volatility.

As of March 2025, promoters held a 51.65 per cent stake in the firm.