This Telecom Ancillary stock is included in the S&P BSE Smallcap index with a market cap of Rs. 2,595 crore. The stock price is at Rs. 302.25, versus Rs. 289.80 at closing on Wednesday.
The stock is 22% away from its 52 week high, currently trading 3.5% away and 21% above its 20 day and 200 day moving averages respectively. The stock is seeing volumes that are over 0.5x the weekly average volumes. The company is held 75% by promoters and the rest by the public.
In a filing dated 5th October 2023, Optiemus Infracom Ltd (“Optiemus Infracom”) stated that “Bharat Innovative Glass Technologies Private Limited” has been incorporated as a Joint Venture cum Subsidiary Company of Optiemus Infracom on October 04, 2023. The action is due to be completed in 60 days in cash of Rs. 11.48 lakh aggregating to 70% holding.
The new subsidiary company has been incorporated to carry on the business of: (i) manufacturing of the Finished Parts for use in mobile consumer electronic devices (or other cover glass applications mutually agreed by the Parties); (ii) selling the Finished Parts to mobile consumer electronics manufacturers and OEMs (or other cover glass applications mutually agreed by the Joint Venture Parties), or their designated supply chain participants, for use in their operations; and (iii) such other business as may be agreed by the Parties. “Finished Parts” means the finished cover glass parts resulting from the finishing of raw cover glass sheets.
Optiemus Infracom engages in the trading of mobile handset and mobile accessories in India and internationally. For the past 25 years, Optiemus Infracom was focused primarily on the distribution of mobile phones from well-known manufacturers like Nokia and Samsung. In the Delhi General Trade Market, the group began selling Nokia phones for the first time in the year 1995.
Written by Sandeep R
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
