MRO-Tek Realty gains 5% on acquiring land parcel in North Goa; details here

MRO-Tek Realty share price: Telecommunications equipment supplier MRO-Tek Realty shares rose up to 4.68 per cent to hit an intraday high of Rs 99.50 per share on Monday, October 21, 2024.

The surge in MRO-Tek share price came after the company announced that it has secured a land parcel in Candolim, North Goa, marking a major step in its strategic expansion into the real estate sector. 

In an exchange filing, MRO-Tek said, “Please be informed that the company has successfully procured a parcel of land at Candolim, North Goa, a highly sought-after location being in the heart of the popular tourist spots, marking a significant step in our strategic expansion into the Real Estate sector.” 

The acquisition, MRO-Tek said, aligns with its vision to enhance the company’s real estate activities and capitalise on the growing demand for quality properties in this vibrant region. 

Furthermore, the company is now in the process of proceeding with plan approval from the relevant authorities, aiming to develop a project that embodies excellence and innovation and growth in business, it added.

Established in 1984, MRO-Tek Realty is a versatile company that engages in manufacturing, supplying, and distributing advanced access and networking equipment and solutions. 

With a focus on high-performance technologies, the company offers a comprehensive portfolio that includes 4G/LTE wireless systems, DWDM, IoT sensors, and a range of customer premises equipment. 

Additionally, MRO-Tek is recognised as an original equipment manufacturer (OEM) for carrier-grade networking products, catering to the demands of various sectors.

Beyond its core networking solutions, MRO-Tek Realty Ltd has diversified into real estate, enhancing its business footprint. 

The company's services encompass turnkey IT telecom projects, homeland security solutions, unmanned aerial vehicles, and innovative technologies such as big data and machine learning. 

With expertise in legacy networks, SD-WAN, cloud-managed services, and electronic manufacturing, MRO-Tek serves a wide array of industries, including telecommunications, finance, defence, and healthcare.

The market capitalisation of MRO-Tek Realty is Rs 176.29 crore, according to BSE. 

At 1:30 PM, MRO-Tek Realty shares were trading 0.74 per cent lower at Rs 94.35 per share. In comparison, BSE Sensex was trading 0.08 per cent lower at 81,157.03 levels.