Debt-free multibagger penny stock under Rs 20: This defence telecom company bags new order worth Rs 109 million

The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 960 per cent in 3 years.

Kavveri Telecom Products Limited, a frontrunner in manufacturing wireless subsystems, has achieved a significant milestone. They secured a crucial order worth Rs 109 million for radio frequency products and antennas. This accomplishment is particularly noteworthy because these products were indigenously developed at Kavveri's R&D centre, aligning perfectly with the Make in India initiative. This initiative promotes domestic production and aims to make India a global manufacturing hub.

This success comes after Kavveri Telecom invested heavily in research and development for many years. Their dedication to innovation is now paying off. They are not only fulfilling a critical project within India but are also setting their sights on the global market. Kavveri Telecom is actively pursuing orders from overseas with the ultimate goal of transforming its Indian facilities into a global manufacturing hub for its products, further solidifying India's position in the telecom equipment sector under the Make in India initiative.

Commenting on this new development, Mr Shivakumar Reddy, Managing Director, Kavveri Telecom Products Limited said, "It is incredibly gratifying to design and develop these mission-critical products under the Make in India initiative for the first time. Having accomplished many firsts in the wireless industry in India, we are committed to leveraging our expertise and experience to expand our market reach and contribute significantly to making Bharat Atmanirbhar. The benefits of the Make in India initiative, coupled with the significant expected growth of infrastructure in India, make; it a very exciting time for us at Kavveri.” 

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Kavveri Telecom is a leading wireless products manufacturer, providing world-class hardware products and solutions for the telecom, defence and space industry. Kavveri Telecom combines expertise with experience to deliver state-of-the-art products and solutions spanning the wide spectrum of the wireless Industry up to 18 GHz frequency range. The diverse range of products manufactured by Kavveri includes Antennas, RF (Radio Frequency) Components, Filters, Combiners, Multi-couplers, Repeaters, TMA/TMB and many more.

The company has a market cap of Rs 38.62 crore and it's completed debt-free as of March 2024. Today, shares of Kavveri Telecom Products Limited were locked in a 2 per cent upper circuit to Rs 19.19 per share from its previous closing of Rs 18.82. In the recent trading sessions, the stock has been hitting back-to-back upper circuits. The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 960 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.