Multibagger from its 52-week low: Board likely to announce stock split and receives order worth Rs 54.38 crore from Ministry of Defence!
The stock gave multibagger returns of over 1,000 per cent in just 3 years whereas BSE Sensex Index is up by 85 per cent.
On Monday, shares of Avantel Ltd surged 7.80 per cent to make a new 52-week high of Rs 645 per share from its previous closing of Rs 598.35. The stock gave multibagger returns of 172.27 per cent for its 52-week low of Rs 236.90 per share. At 01:00 pm, shares of the company were trading at Rs 641.75 per share, up 7.25 per cent.
Order Update: The company has signed a contract worth Rs 54.38 crore with the Ministry of Defence, Coast Guard Headquarters, New Delhi. The order includes manufacturing SATCOM Terminals and Hub Stations and will be completed by September 2024.
stock split Update: The company will hold a meeting on Friday, June 23, 2023 inter alia to consider and approve the proposal for sub-division/split of the Equity shares of the company having a face value of Rs 10 (Rupees Ten) each fully paid up.
dividend Update: The company announced a final dividend of 10 per cent or Rs 1 per share. The company verified the record date as Friday, June 16, 2023.
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Avantel Ltd specializes in the Information Technology sector. The company's services include designing, developing and deploying various e-business solutions, in addition to supplying assorted application services in the ISP area. The shares of the company hit back-to-back 52-week highs with a spurt in volume by more than 1.05 times on BSE.
Avantel has a market cap of Rs 1,041 crore with a 3-year CAGR of 120 per cent. The company has reported excellent numbers in its Quarterly Results and annual results. The shares of the company have a PE of 32x and a ROE of 31 per cent.
The stock gave multibagger returns of over 1,000 per cent in just 3 years whereas BSE Sensex Index is up by 85 per cent. Investors should keep an eye on this Small-Cap stock.