FIIs bought 1,33,320 shares: Multibagger telecom equipment manufacturer stock hit 52-week high as company foray into drones and services
The stock gave multibagger returns of over 250 per cent from its 52-week low of Rs 218.4 per share and gave multibagger returns of 1,300 per cent in 5 years.
On Monday, shares of Optiemus Infracom Limited gained 17.46 per cent and made a new 52-week high of Rs 788 per share from its previous closing of Rs 670.85. At the closing bell, shares of the company were trading at Rs 751 per share, up 11.95 per cent with a spurt in volume by more than 4 times on BSE.
Optiemus Infracom Limited has made a significant stride into the burgeoning drone industry with the launch of Optiemus Unmanned Systems, a dedicated division focused on manufacturing drones. This strategic move positions Optiemus to capitalize on the growing demand for drones across various sectors, including defence, mining, solar, agriculture, communication and infrastructure.
The company's participation in the International Drone Expo in New Delhi underscores its commitment to establishing a strong presence in the drone market. By actively bidding for projects with the Indian Military and Para Military forces, Optiemus aims to leverage its expertise and capabilities to meet the specific requirements of these critical sectors. Furthermore, the company's collaboration with IIT Gandhinagar and NCCSD on a pilot study to improve agricultural yields through modern farming techniques demonstrates its dedication to contributing to sustainable and efficient agricultural practices. Optiemus' ambitious plans to launch Drone as a Service across multiple segments solidify its position as a frontrunner in the drone industry, offering innovative solutions to address diverse needs and challenges.
Prior to its foray into drones, Optiemus Infracom Limited had already made a strategic move into the telecom equipment manufacturing sector. This decision aligned with the Indian government's vision of an Atmanirbhar Bharat, which emphasizes self-reliance and domestic manufacturing. By partnering with Tejas Networks, a renowned Indian company specializing in telecom products, Optiemus has gained access to advanced technology and expertise. The company's state-of-the-art Noida facility is now equipped to manufacture a wide range of telecom equipment, including 4G Base Band Units, Remote Radio Heads, ONT, ONU, Broadband Switches and Routers. This expansion into the telecom sector not only contributes to India's efforts to become self-reliant in telecom equipment design and manufacturing but also strengthens Optiemus' position as a leading player in the electronics industry.
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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 6,448 crore and working capital requirements have reduced from 76.2 days to 57.2 days. The stock gave multibagger returns of over 250 per cent from its 52-week low of Rs 218.4 per share and gave multibagger returns of 1,300 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.