Telecom stock surged by 4% following its recent partnership with a Taiwan-based drone manufacturer.
Telecom stock surged : Telecommunications and electronics manufacturing company, Telecom Stock, saw a significant increase of 4 percent in its stock following a strategic partnership with Taiwan-based KunWay Technology to produce drones in India.
Market Analysis
On Monday, Optiemus Infracom Limited had a market capitalization of Rs 5,973.08 Crores. The company’s shares were trading at Rs 687.10, showing a decrease of 1.3 percent from its previous closing price of Rs 696.45.
Details of the Partnership
Optiemus Unmanned Systems (OUS), a subsidiary of Optiemus Infracom Limited, has joined forces with KunWay Technology from Taiwan to manufacture and customize KunWay’s drone range in India. This collaboration is in line with the Indian government’s “2025: Year of Reforms for the Defence Sector” initiative, showcasing a commitment to strengthening the country’s defense capabilities through technological advancements.
Located at the Chiayi AI Drone Center in Taiwan, KunWay specializes in the development of drones and AI systems, serving clients in the U.S. and Japan. The company utilizes AI technology to improve operational accuracy and meet the evolving demands of the global market.
By utilizing its state-of-the-art manufacturing facilities in Noida, Optiemus Unmanned Systems (OUS) is committed to supporting the “Make in India” initiative by domestically producing KunWay’s drones. This partnership also opens up opportunities for potential expansion into KunWay’s wider product range.
Optiemus Group, a prominent telecommunications and manufacturing company based in India, boasts nearly three decades of experience in telecommunications, technology, and manufacturing. Notably, the company’s founders were pioneers in retailing mobile phones in India back in 1995.
In the most recent quarter, Optiemus Group saw a 72% increase in revenue, rising from Rs 277.17 crores to Rs 479.39 crores in Q2FY24-25. Additionally, net profit surged from Rs 5.4 crores to Rs 13.73 crores during the same period.
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