Surana Telecom, a penny stock in the telecommunications business surged 10% to Rs. 13.4 and hit the upper circuit after PM Narendra Modi lauded the digital progress in the Country at a speech in Munich, Germany.
The reference to mobile phones was an oblique reference to companies like Surana Telecom. "There was a time when India was nowhere in the race of startups. Today, we are the third-largest startup ecosystem. Similarly, we used to import even the simplest phones, today, we are the second-largest mobile phone manufacturer in the world," he said.
"Not only this, in India, on an average, we have a ‘unicorn' every 10 days," Modi added.
He also stated that the spirit of innovation is evident in all parts of the country, emphasizing that an average of 5,000 patents are filed every month in India.The country is also matching the pace of digitisation, with "40 percent real time digital transactions of the world taking place in India", he added.
Surana Telecom came into focus because Modi pointed out that the push towards digitalisation has also led to the ease of living. Around 12 to 15 lakh people travel in train daily by booking online tickets.The use of technology has also impacted the agricultural sector. Farmers have started spreading fertiliser using drones.Mapping of land and houses are also being done using drones. Property certificates have also been issued based on the verification process.
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