FIIs bought 1,33,320 shares in Q1: Multibagger telecom equipment manufacturer stock hit 52-week high with 4 times spurt in volume!
The stock gave multibagger returns of 186 per cent from its 52-week low of Rs 218.40 per share and gave multibagger returns of 1,155 per cent in 5 years.
On Thursday, shares of Optiemus Electronics Limited (OEL) gained 13.33 per cent and made a new 52-week high of Rs 637.50 per share from its previous closing of Rs 562.50. At the closing bell, shares of the company were trading at Rs 624.50 per share, up 11.02 per cent with a spurt in volume by more than 4 times on BSE. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
Earlier, Optiemus Electronics had announced its foray into telecom equipment manufacturing. This strategic move aligned with the government's vision of an Atmanirbhar Bharat, promoting indigenous design and manufacturing. Optiemus partnered with Tejas Networks to manufacture a wide range of telecom equipment products, including 4G Base Band Units, Remote Radio Heads, ONT, ONU, Broadband Switches and Routers, from its state-of-the-art Noida facility.
This announcement came amidst India's ongoing efforts to become self-reliant in telecom equipment design and manufacturing. Optiemus aimed to significantly boost domestic manufacturing capabilities in this sector. Tejas Networks, a respected Indian company specializing in telecom and networking products, has established itself as a trusted partner in the Indian telecom ecosystem over the past decade. Did you know: An ace investor, Vijay Kedia through its own company – Kedia Securities Pvt Ltd owns a 1.87 per cent stake in Tejas Networks Ltd which is a part of Tata Group as of June 2024.
About Tejas Networks Limited: Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas Networks is a part of the Tata Group, with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt Ltd.) being the majority shareholder.
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About Optiemus Electronics Limited (OEL)
Optiemus Electronics Limited (OEL), engaged in 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. With a highly experienced team and winning attitude, OEL has won the trust of many local as well as global brands, maintaining its commitment towards quality, timely delivery, flexibility as well as customer satisfaction.
The company has a market cap of Rs 5,362 crore and working capital requirements have reduced from 76.2 days to 57.2 days. The stock gave multibagger returns of 186 per cent from its 52-week low of Rs 218.40 per share and gave multibagger returns of 1,155 per cent in 5 years. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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