Netweb Tech shares rise 6% to hit new 52-week high; stock up 435% over IPO price

Shares of Netweb Technologies India Ltd surged about 6 per cent during the trading session on Wednesday, hitting its new 52-week high, after the company announced to launch its Make-in-India range of servers for data centers AI systems. The company informed the same through an exchange filing on Tuesday.

Netweb Technologies has launched its Make-in-India range of servers. The single/dual Socket server platforms are designed to harness the robust capabilities of the latest 4th Gen AMD EPYC processors, said the company in its exchange filing with the bourses.

Available in 1U, 2U, 4U, workstations, and other models, these platforms are optimized to meet various demanding needs of highperformance computing environments and diverse workloads. It also provides the added flexibility to configure systems differently in terms of I/O expansion and storage support, the filing added.

Following the announcement, shares of Netweb Technologies rose 5.60 per cent to Rs 2,678.80, hitting its new 52-week high, commanding a total market capitalization of about Rs 15,100 crore. The scrip had settled at Rs 2536.65 in the previous trading session.

“This range of servers represents our commitment to the Make in India mission and highlights capabilities to produce world-class technology indigenously,” said Sanjay Lodha, CEO of Netweb Technologies.

Netweb Technologies is an India-based provider of high-end computing solutions (HCS) with fully integrated design and manufacturing capabilities. The Company's HCS offering comprises HPC, private cloud and (HCI), artificial intelligence (Al) systems and enterprise workstations, high-performance storage (HPS) and data centre servers.

Listed in July, 2023, shares of Netweb Technologies have delivered stellar returns to the investors in just 11 months of its listing. The company raised a total of Rs 631 crore via IPO at an issue price of Rs 500 apeice. The stock is up 435 per cent from its issue price so far.

The stock has surged more than 260 per cent from its 52-week lows of Rs 739.70 hit in October 2023. The stock has tripled investors wealth in the last one year, while is has gained about 130 per cent in the last six months period. In the last one month, it is up more than 30 per cent.