Small cap telecom company stock moved 9 percent after the company’s board approved the commencement of new business.
With a market capitalization of Rs. Rs. 2,446 cr, the shares of Optiemus Infracom Ltd opened flat at Rs. 292 in its Friday trading session. During market hours the shares moved up to Rs 318 making a gain of 9 percent and currently trading at Rs. 311 apiece.
The positive move in the stock was observed after the company in an exchange filing announced that it is has approved for the commencement of a new business under the name “Optiemus Unmanned Systems” (“OUS”) with the launch of technologically sophisticated, high-precision drones that have been designed and manufactured in India.
Optiemus Infracom Ltd will be investing Rs. 25 cr in Optiemus Unmanned Systems (OUS).
The company will be at the forefront of research, manufacturing, and development of unmanned aerial vehicles (UAVs) as Optiemus Unmanned System will drive synergies from the manufacturing excellence of Optiemus Electronics Limited, a wholly-owned subsidiary of the Company and go-to-market capabilities of Optiemus to deliver first-of-its-kind drones in India.
Digging into the financial statement of the company, the revenue of the company was at Rs. 281.58 cr during Q1 FY24, and the consolidated net profit was Rs 9.39 cr keeping the timeframe the same.
Looking at the important ratios, the return on equity shifted positively from -0.28 percent during FY21-22 to 11.75 percent in FY22-23. In addition to that the return on capital employed increased from 2.43 percent to 14.55 percent during the same period.
According to the latest shareholding pattern, the Promoters of the company have 74.89 percent of the stake, the Retail Investors have 25.04 percent of the holdings, FIIs hold 0.04 percent of the company’s shares and the remaining 0.03 percent of the share are with DIIs.
Optiemus Infracom is a diversified, and high-performance telecommunication company specialized in multi-domain experience, including management, distribution, and marketing of mobile and telecom products in the Indian subcontinent.
Written By Vaibhav Patil
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.
