Netweb Tech stock: Shares of Netweb Technologies India Ltd surged about 6 percent during Wednesday’s trading session, hitting a new 52-week high. This increase followed the company’s announcement, made via an exchange filing on Tuesday, of its plans to launch a Make-in-India range of servers for data centers and AI systems.
Netweb Technologies has launched its Make-in-India range of servers. The single/dual socket server platforms are designed to harness the robust capabilities of the latest 4th Gen AMD EPYC processors, the company announced in its exchange filing. -Netweb Tech stock
Available in 1U, 2U, 4U, workstations, and other models, these platforms are optimized to meet the demanding needs of high-performance computing environments and diverse workloads. They also offer added flexibility in configuring systems in terms of I/O expansion and storage support, the filing added.
Following the announcement, shares of Netweb Technologies rose by 5.60 percent to Rs 2,678.80, hitting a new 52-week high and bringing the company’s total market capitalization to approximately Rs 15,100 crore. The scrip had settled at Rs 2,536.65 in the previous trading session.
This range of servers demonstrates our commitment to the Make in India initiative and showcases our capability to produce world-class technology domestically, stated Sanjay Lodha, CEO of Netweb Technologies.
Netweb Technologies, an India-based provider of high-end computing solutions (HCS), offers fully integrated design and manufacturing capabilities. The company’s HCS portfolio includes high-performance computing (HPC), private cloud and hyper-converged infrastructure (HCI), artificial intelligence (AI) systems, enterprise workstations, high-performance storage (HPS), and data center servers.
Listed in July 2023, shares of Netweb Technologies have delivered impressive returns to investors within just 11 months of its listing. The company raised a total of Rs 631 crore through its IPO at an issue price of Rs 500 per share. The stock has appreciated by 435 percent from its IPO price to date.
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The stock has soared over 260 percent from its 52-week lows of Rs 739.70 reached in October 2023. Over the past year, it has tripled investors’ wealth, experiencing a gain of about 130 percent in the last six months alone. Moreover, in the past month, the stock has risen by over 30 percent.
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