Moser Baer has launched Crypto token for digital signature and e-commerce applications in the information security solutions segment.

This will be the first security token to be manufactured in India with local sales, service and system integration support.

The scope and relevance of the product is very timely as the e-commerce industry has grown from USD 3-8 billion in the year 2009 to USD 9-5 billion in 2013.

Deepak Shetty, senior vice president-domestic sales and marketing, Moser Baer said, "According to industry reports there has been a 150% growth in E-commerce industry in past few years and the industry is expected to contribute 4% to GDP by 2020."

Shares of the company declined Rs 0.35, or 3.59%, to trade at Rs 9.40. The total volume of shares traded was 265,642 at the BSE (12.26 p.m., Thursday).