India's Optiemus Infracom gains on Wistron agreement

Optiemus Infracom

24/08/2021 09:21

** Shares of Optiemus Infracom  OPTI.NS  — a distributor and
retailer of global telecom brands across India — rise as much as
4.9% to 147.35 rupees; biggest pct gain since July 6
    ** Co's unit signs deal with the Indian unit of Taiwan's
Wistron Corp  3231.TW , to build products such as smartphones
and laptops
    ** Optiemus' unit will invest 13.50 bln rupees ($182.05 mln)
to ramp up electronics manufacturing in next 3 to 5 years, with
expectations to achieve revenue of about 380 bln rupees in the
same time period
    ** Wistron entered India in 2015 by buying a minority equity
stake in Optiemus in a partnership that assembled devices for
brands including Taiwan's HTC and South Korea's LG Electronics
Ltd  066570.KS 
    ** As of last close, OPTI stock up 53.6% this year vs 39.87%
gain in Nifty IT index  .NIFTYIT . 

 ($1 = 74.1550 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607))