Optiemus Infracom hits record high on foraying in telecom equipment manufacturing

Optiemus Infracom surged 10.80% to Rs 560.50 after the company announced that it has forayed into the telecom equipment manufacturing, to boost indigenous designing and manufacturing of telecom equipment in India.

The company 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 Noida manufacturing facility.

The firm said that the announcement comes against the backdrop of Indias ongoing efforts to move towards self-reliance in the design and manufacturing of telecom equipment. It aims to significantly enhance the domestic manufacturing capabilities of telecom equipment, it added.

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 Group is a telecommunications and manufacturing enterprise based in India. It has a presence in the Indian electronics market with experience in telecommunications, technology, and manufacturing. Optiemus Group possesses expertise in distribution, marketing, and manufacturing of mobile and telecom products in the Indian subcontinent through its subsidiaries and associates.

The companys consolidated net profit jumped 29.3% to Rs 12.14 crore in Q1 FY25 as compared to Rs 9.39 crore posted in Q1 FY24. Revenue from operations surged 75% YoY to Rs 492.66 crore in Q1 FY25.

The scrip hit an all time high of Rs 565.60 in intraday today.

Powered by Capital Market - Live News