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Optiemus zooms 20% on JV with Taiwan co for mobile handsets

Optiemus and Wistron Corporation, Taiwan-based original design manufacturer, today announced a joint venture agreement to set up manufacturing facilities for telecom products in India," the telecom enterprise said in its filing.

November 24, 2015 / 03:11 PM IST
 
 
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Moneycontrol Bureau


Shares of Optiemus Infracom are locked at 20 percent upper circuit on Tuesday after it entered into joint venture agreement for mobile manufacturing with Taiwan-based company. The stock also rallied 16 percent in previous session.


Optiemus and Wistron Corporation, Taiwan-based original design manufacturer, today announced a joint venture agreement to set up manufacturing facilities for telecom products in India," the telecom enterprise said in its filing.


Over the next five years, partners will strategically invest approximately USD 200 million in infrastructure, technologies and processes to cater to growing India and global demands of telecom products, it added.


Joint venture targets to create over 15,000 employment opportunities over the next five years in India. "We intend to emerge as one of the top three third party manufacturers in the country in next five years," Ravinder Zutshi, MD, Optiemus said. They will start first factory in Noida for mobile manufacturing.

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At 14:45 hours IST, the scrip of Optiemus Infracom was quoting at Rs 52.65, up Rs 8.75, or 19.93 percent on the BSE. There were pending buy orders of 38,301 shares, with no sellers available.

Posted by Sunil Shankar Matkar

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