Telecom stock, engaged in telecommunications and electronics manufacturing jumped up to 4 percent following a strategic partnership with the Taiwan-based KunWay Technology to manufacture drones in India.
Price Action
With a market capitalization of Rs 5,973.08 Crores on Monday, the shares of Optiemus Infracom Limited were trading at Rs 687.10, down 1.3 percent compared to its previous closing price of Rs 696.45.
What Happened
Optiemus Unmanned Systems (OUS), a subsidiary of Optiemus Infracom Limited, has partnered with Taiwan-based KunWay Technology to manufacture and localize KunWay’s drone portfolio in India. This collaboration aligns with the Indian government’s “2025: Year of Reforms for the Defence Sector” initiative.
Based at the Chiayi AI Drone Center in Taiwan, KunWay specializes in drone and AI system development, catering to customers in the U.S. and Japan. The company integrates AI technology to enhance operational precision and adapt to global market demands.
Leveraging its advanced manufacturing facilities in Noida, Optiemus Unmanned Systems (OUS) aims to contribute to the “Make in India” vision by producing KunWay’s drones domestically. The partnership also allows for potential expansion into KunWay’s broader product range.
About the company
Optiemus Group, a leading telecommunications and manufacturing enterprise based in India, owns nearly three decades of expertise in telecommunications, technology, and manufacturing. Notably, the company’s promoters were the first to retail mobile phones in India in 1995.
In the latest quarter its revenue went up by 72 percent from Rs 277.17 crores to Rs 479.39 crores in Q2FY24-25. Meanwhile, net profit rose from Rs 5.4 crores to Rs 13.73 crores during the same period.
Written by Shwetha Sairam
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