Optiemus Infracom freezes at 5 per cent upper circuit, heres why!
The MoU has been signed to manufacture mobile devices, IT hardware, and automotive- EV products.
Optiemus Electronics Limited (OEL), a leading homegrown company engaged in the manufacturing of next-generation electronic products, recently announced that it has signed a memorandum of understanding (MoU) on a strategic partnership to form an alliance in order to strengthen the ties with Taiwan-headquartered Wistron Corporation’s Indian subsidiary Wistron Infocomm Manufacturing (India). The MoU has been signed to manufacture mobile devices, IT hardware, and automotive- EV products.
The strategic alliance is expected to furnish a unique proposition in the Indian electronics manufacturing services (EMS) market backed by joint product development, software, engineering capabilities, and firmware development besides giving a fillip to new employment opportunities in the country. Apart from bringing smart manufacturing to India, the alliance will also, work towards creating a joint hub in India for design solutions product development.
In context to this, the company said, “Apart from manufacturing mobile phones, the alliance will also work towards design and manufacturing of tablets, laptops, hearables/wearables, telecom products, IoT/Industrial IoT, smart meters/devices, and automotive-EV products. The alliance will as well focus on the expansion of the design ecosystem in India.”
Currently, Optiemus has PLI for both mobile phone manufacturing and IT hardware manufacturing. It aims to achieve revenues of approximately Rs 38,000 crore in multiple product segments while ramping up its manpower significantly to reach a figure of around 11,000 and its investment to Rs 1,350 crore in the next 3 to 5 years.
Optiemus Infracom Limited is engaged in the trading of mobile handsets & mobile accessories as well as renting immovable property.
The share price of Optiemus Infracom locked at an upper circuit of approximately 5 per cent, reaching Rs 147.35 per share today.