A JV Announcement By A US-Based MNC Saw This Small-Cap Stock Shoot 7%

Indian telecom manufacturer Optiemus Infracom saw its shares soar on Friday afternoon after the company announced the approval of a joint venture (JV) with US-based Corning International to establish India’s first facility dedicated to producing cover glass parts for smartphones.

What Happened? The joint ventures, announced on Friday, aim to champion the “Make in India” initiative, targeting the evolving needs of contemporary mobile gadgets.

Optiemus Infracom, with its three-decade legacy in the telecom sector, sees this venture as a strategic move to strengthen its global footprint. Ashok Kumar Gupta, Chairman of Optiemus, envisions the company emerging as a global leader in mobile glass components within the next five years.

Corning International, known for its prowess in glass and ceramics production, brings its technical expertise to the table. Together, the companies plan to leverage cutting-edge technologies and processes to set a new industry standard.

Price Action: Optiemus Infracom shares were up 4.21% to close at ₹361 on Friday.

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Posted In: EquitiesMarketsMoversTrading IdeasCorning Inc.Optiemus Infracom