Netweb Tech shares rise 6% to hit new 52-week high; stock up 435% over IPO price.
Netweb Technologies India Ltd shares surged nearly 6% after announcing its Make-in-India server range for data centers and AI systems, leveraging 4th Gen AMD EPYC processors.
Shares of Netweb Technologies India Ltd surged approximately 6 percent during Wednesday's trading session, reaching a new 52-week high after the company announced the launch of its Make-in-India range of servers for data centers and AI systems. This announcement was made through an exchange filing on Tuesday.
Netweb Technologies introduced its Make-in-India server range, featuring single and dual socket platforms designed to leverage the capabilities of the latest 4th Gen AMD EPYC processors. According to the company’s filing, these servers come in various models including 1U, 2U, 4U, and workstations, and are optimized for high-performance computing environments and diverse workloads. They also offer flexibility in terms of I/O expansion and storage support.
Following this announcement, Netweb Technologies’ shares rose by 5.60 percent to Rs 2,678.80, marking a new 52-week high and bringing the company’s market capitalization to approximately Rs 15,100 crore. The stock had closed at Rs 2,536.65 in the previous session. CEO Sanjay Lodha stated, “This range of servers represents our commitment to the Make in India mission and highlights our ability to produce world-class technology indigenously.”
Netweb Technologies, based in India, provides high-end computing solutions (HCS) with fully integrated design and manufacturing capabilities. The company’s offerings include HPC, private cloud and HCI, AI systems and enterprise workstations, high-performance storage (HPS), and data center servers.
Since its listing in July 2023, Netweb Technologies’ shares have delivered impressive returns to investors, rising 435 percent from the IPO issue price of Rs 500 per share. The stock has increased more than 260 percent from its 52-week low of Rs 739.70 in October 2023, tripling investors' wealth over the past year and gaining approximately 130 percent in the past six months. In the last month alone, the stock is up more than 30 percent.
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