Optiemus Infracom to enter into JV agreement with Corning International Corporation!

Optiemus Infracom has received approval to enter into Joint Venture agreement with Corning International Corporation, a company incorporated under the laws of Delaware, United States of America.

The purpose of the agreement is to form a joint venture company in India that will manufacture finished parts for use in mobile consumer electronic devices (or other cover glass applications agreed upon by the parties). The joint venture company will also sell the finished parts to mobile consumer electronics manufacturers and OEMs (or other cover glass applications agreed upon by the parties), or their designated supply chain participants, for use in their operations. The joint venture company may also engage in other businesses as agreed upon by the parties.

The Board of Directors of the Company at its meeting held on September 01, 2023 has approved the same.

Optiemus Infracom is a diversified, award-winning, high-performance telecommunications enterprise with multi-domain experience including management, distribution & marketing of mobile & telecom products in the Indian subcontinent. The group first started the distribution of Nokia handsets in the Delhi General Trade market in 1995.

Today, the stock opened at Rs 347.05, with a high and low of Rs 372.35 and Rs 347.05 respectively. The stock is currently trading at Rs 357.00, up by 2.91%. In the last 6 months, the shares of the company have given more than 40% returns, and on a YTD basis, the stock has given about 15% returns.

The stock has a 52-week high of Rs 376.00 and a 52-week low of Rs 160.45. The company has a ROCE of 13.5% and an ROE of 11.8% with a market capitalization of Rs 3,083 crore. The stock has shown impressive growth and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.