Shares of Optiemus Infracom Ltd gained over 5% today after the firm said its promoter GRA Enterprises Private Limited has released pledge on 35,00,000 equity shares of the company on February 27, 2023. Optiemus Infracom shares gained 5.5% to Rs 265.5 against the previous close of Rs 251.55 on BSE. The stock has gained 7.72 % in a year but lost 16.41 per cent in 2023. However, shares of Optiemus Infracom have delivered multibagger returns of 1134% in three years.
Total 4,279 shares of the firm changed hands amounting to a turnover of Rs 11.66 lakh on BSE. The market cap of the firm rose to Rs 2198.37 crore on BSE.
The stock hit a 52-week high of Rs 436 on April 21, 2022 and a 52-week low of Rs 207.55 on November 21, 2022.
In terms of technicals, the relative strength index (RSI) of Optiemus Infracom stands at 38.4, signaling it’s neither oversold nor overbought. Optiemus Infracom stock has a one-year beta of 1.4, indicating very high volatility during the period. Shares of Optiemus Infracom stock are trading higher than the 5-day moving averages but lower than 20-day, 50-day, 100-day and 200-day moving averages.
“We would like to inform you that 35,00,000 (Thirty Five Lacs) pledged equity shares of the Company held by GRA Enterprises Private Limited, promoter of the Company has been released on February 27, 2023. Further, we would also like to inform that after such release, none of the shares of promoter and promoter group will remain pledged. Kindly take the same on your record,” the firm said in a communication to bourses.
The firm logged a net profit of Rs 12.57 crore for the quarter ended December 2022 as against net loss of Rs 2.49 crore during the previous quarter ended December 2021. Sales rose 145.86% to Rs 326.68 crore in the quarter ended December 2022 as against Rs 132.87 crore during the previous quarter ended December 2021.
EBITDA rose to a profit of Rs 16.16 crore in Q3 against a loss of Rs 2.45 crore in the December quarter of the previous fiscal.
Optiemus Infracom is a diversified telecommunications enterprise, and a major player in the Indian mobility ecosystem. The company has over 25 years of multi-domain experience including management, distribution & marketing of mobile & telecom products in the Indian subcontinent.
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