From Rs 7.60 to Rs 33.88 per share in just 1 year: Debt-free multibagger defence telecom stock hit back-to-back upper circuits & 52-week highs!
The stock also made a fresh new 52-week high of Rs 33.88 per share while its 52-week low is Rs 7.60 per share, gaining multibagger returns of 346 per cent in just 1 year.
Today, shares of Kavveri Telecom Products Limited were locked in a 2 per cent upper circuit to Rs 33.88 per share from its previous closing of Rs 33.22. The stock also made a fresh new 52-week high of Rs 33.88 per share while its 52-week low is Rs 7.60 per share, gaining multibagger returns of 346 per cent in just 1 year.
Kavveri Telecom Products Limited has experienced significant stock price growth, hitting consecutive upper circuits and 52-week highs. This surge follows the company's board approval on July 18, 2024, to initiate a name change to Kavveri Defence & Wireless Technologies Limited. On July 29, 2024, the Central Registration Centre approved the application for this name change, confirming its availability for the company. However, the new name must be adopted within 60 days and remains subject to potential withdrawal if irregularities are discovered, while also requiring adherence to provisions of the Companies Act, 2013.
Earlier, Kavveri Telecom, a top wireless subsystem maker, landed a major Rs 109 million order for homegrown radio frequency products and antennas. This aligns with the Make in India initiative, boosting domestic production. Kavveri's R&D investment paid off, and they now eye global markets to make India a telecom equipment manufacturing hub.
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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 68.18 crore and it's completed debt-free as of March 2024. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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