NXTDigital zooms ~7% as it inks pact with OneOTT for BoS

31 May 2022 , 10:41 AM

NXTDigital informed in its regulatory filing that a Memorandum of Understanding (MoU) has been entered among NXTDIGITAL Limited (NDL), OneOTT Intertainment Limited (OIL), a material subsidiary of NXTDIGITAL Limited and Thaicom Public Company Limited (TC) to commercially deploy Broadband over Satellite (BoS) Service along with related products and/or services ancillary to BoS which may include Public Wi-Fi Services across India.

TC is one of the leading satellite service providers in the world and is one of the pioneers in the Broadband over Satellite (BoS) space. The company currently provides the service in India. Such MoU was signed on May 30, 2022.

Currently, NDL is providing wired broadband services through its material subsidiary to over one million subscribers across India. NDL along with OIL expects a huge demand of Broadband over Satellite (BoS) in India and by entering the said MoU, NDL will be able to cater such demand.

NXTDigital is currently trading at Rs376, up by Rs26.10 or 7.09% as against Rs368.20 on NSE. It opened at Rs371.85 and touched intraday high and low of Rs381.85 and Rs365.95 respectively.