Shares of Optiemus Infracom rose over 12% to their record high today after the firm said it has forayed into manufacturing of telecom equipment. Optiemus Infracom stock surged 12.58% to Rs 569.50 against the previous close of Rs 505.85 on BSE. Market cap of the firm stood at Rs 4812 crore.
The multibagger stock has gained 121% in one year and risen 116% in two years. The stock zoomed 300% in the last three years.
Total 2.43 lakh shares of the firm changed hands amounting to a turnover of Rs 13.27 crore on BSE.
Optiemus Infracom has a one-year beta of 1, indicating average volatility during the period. Optiemus Infracom shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. The multibagger electronics stock is neither overbought nor oversold on charts, indicates its RSI at 64.9.
"Optiemus Infracom announced that it has forayed into telecom equipment manufacturing. In the efforts to boost indigenous designing and manufacturing of telecom equipment in India, aligning with the vision of Hon'ble Prime Minister for an Atmanirbhar Bharat, Optiemus is working with Tejas Networks as a manufacturing partner for a wide array of telecom equipment products like 4G Base Band Units / Remote Radio Head / ONT / ONU /Broadband Switches & Routers from its state-of-the-art Noida manufacturing facility," said Optiemus Infracom in a communication to bourses.
A Gururaj, MD, Optiemus Electronics said, “It is a momentous occasion as we expand our manufacturing capabilities to foray into the growing industry of telecom equipment manufacturing. Tejas Networks stands on a strong foundation to make significant strides in domestic manufacturing of telecom equipment and we are ready to support them in this endeavor to take another leap towards the ‘Make in India’ initiative in telecom manufacturing in India.”
Optiemus Electronics Limited (OEL), engaged into the business of electronics manufacturing in India, provides end-to-end solutions to global and Indian brands encompassing world class manufacturing, supply chain management and repair/refurbishment. OEL has two state-of-the-art manufacturing units in Noida, Uttar Pradesh.