CWD Inks Rs 100-cr Agreement With PhonePe, Shares Hit 20% Upper Circuit

CWD Ltd shares today hit 20% upper circuit on BSE after the company informed signing of a Master Supply Agreement (MSA) with PhonePe to design, develop, and manufacture the innovative Sound Box device. The two-year deal is valued at INR 100 crores. Last trading price of CWD shares on BSE is Rs 953.80 per share. CWD shares offered attractive return of 23% in last 1-week only and soared 38% in last 1-month. The company's market capitalisation stood at Rs 344.46 crore. Check details below:

CWD Signs Agreement With PhonePe: The BSE filing of CWD said, the Sound Box, a game-changing payment solution, has revolutionized the way merchants receive and confirm UPI transactions. By integrating seamlessly with PhonePe's platform, the device provides a multilingual audible confirmation of payments, enabling merchants to focus on serving customers without the need to constantly monitor their mobile devices.

"The partnership with PhonePe underscores CWD's unwavering commitment to harnessing our exceptional engineering and R&D expertise to spearhead innovation in electronic devices. Our dedicated teams have demonstrated extraordinary effort in designing and developing the Sound Box, ensuring it surpasses the highest standards of quality and performance. This collaboration represents not only a significant milestone for CWD but also a profound endorsement of the 'Make in India' initiative. It enriches our customers with superior economics, enhanced product reliability, strengthened security, and the safeguarding of Intellectual Property, while simultaneously promoting local innovation and manufacturing. We are proud to contribute to a more connected and efficient payment ecosystem in India," stated Siddhartha Xavier, Joint Managing Director of CWD Limited.
Under the terms of the agreement, CWD Limited will be responsible for the end-to-end design, development and manufacturing of the Sound Box, ensuring high-quality standards and timely delivery to PhonePe; meeting the growing demand for this innovative solution.

CWD Shares Performance: The 52-week high price of CWD Ltd shares on BSE is Rs 1094.80 per share (as on 22/11/2023) and 52-week low price is Rs 532.00 per share (06/11/2023), respectively. CWD shares gained 27% in last 3-months, soared 17% in last 1-year, and slipped 38% in last 2-years.

CWD About: CWD Limited is a leading IoT design house specializing in the design, development and manufacturing of cutting-edge devices. With a focus on innovation and quality, CWD has established itself as a trusted partner for companies across various industries, including fintech, healthcare, consumer electronics and agriculture solutions.