The Board of Directors of the BSE listed,Decipher Labs Ltd., (BSE Code :524752) engaged in providing Services and key Solutions in Information Technology Industry, have informed the Bombay Stock Exchange that it has been aggressively working towards the expansion goals and have considered various proposals for expansion of the business of the company including the options of acquisition of Businesses in the Pharma and Information Technology Sectors.
With a view to expand its presence further in the Information Technology Sector, the company, through its subsidiary is looking to foray into the Artificial Intelligence, Virtual Reality and Augmented Reality Space (Which is currently in news as Metaverse Space). The company has identified and initiated talks with a US Based company for development and marketing of the combination of multiple elements of technology, including Virtual Reality, Augmented Reality and videos, where users live within the digital universe.
The process is in the nascent stage of development and the company will update the exact nature and terms of arrangements as and when the same are finalized, subsequent to Due Diligence and the
Feasibility and Viability reports.
India’s augmented reality & virtual reality market is expected to witness robust growth owing to rising adoption of technology in diverse portfolio sectors including content generation, engineering etc. and development of virtual applications to create customizable content.
The stock price which was Rs.34 on 22 November 2021 has given a tremendous return of more than 150 per cent in less than 30 days The stock price today stands at Rs. 83.
According to a recent survey, virtual reality market is rising at a compound annual growth rate (CAGR) of 104.24%.Also boost by the Indian government has initiated several development programs, which are supporting the VR market.According to Analysts, with these positive developments,
Decipher is likely to see high growth prospects.
The company’s client include leading Blue Chip companies like Merck, IBM, SAP, Ziess,etc.
The recent Q2 results announced were also excellent with Revenues going up to Rs.14.93 cr and net income zooming by 382 per cent.