10,000 per cent returns & bonus shares likely: This multibagger telecom infrastructure company receives order worth Rs 10.39 crore from Indian Navy!
The stock gave multibagger returns of 370 per cent in just 1 year whereas BSE Sensex Index is up by 13.4 per cent.
Avantel Ltd informed that the company has received a supply order of SATCOM equipment worth Rs 10.39 crore from Material Organisation, Mumbai (Indian Navy). The order will be completed by October 05, 2024.
Additionally, a meeting of the Board of Directors of the company will be held on Monday, October 9, 2023, inter alia, to consider Quarterly Results (Q2FY24) and likely to announce bonus shares.
Earlier, the company received an order worth Rs 7.03 crore from Material Organisation, Visakhapatnam for the supply of MSS TX – RX Terminals M-II. The order should be executed by September 10, 2024. Furthermore, the company ex-traded stock split of shares from Rs 10 to Rs 2. The ex-date was August 14, 2023.
On Friday, shares of Avantel Ltd plunged 4.02 per cent to Rs 271.85 per share from its previous closing of Rs 283.25. The stock traded at an intraday high of Rs 287.70 and an intraday low of Rs 252.20 with a spurt in volume by more than 1.09 times on BSE.
Avantel Ltd specializes in the Information Technology sector. The company's services include designing, developing and deploying various e-business solutions, in addition supplying assorted application services in the ISP area.
Avantel has a market cap of Rs 2,200 crore with a 3-year CAGR of 140 per cent. The company has reported excellent numbers in its quarterly results and annual results. The shares of the company have an ROE of 31 per cent and a ROCE of 37 per cent.
The stock gave multibagger returns of 370 per cent in just 1 year whereas BSE Sensex Index is up by 13.4 per cent. This stock has been a phenomenal performer, with returns of over 1,300 per cent in 3 years and over 10,000 per cent in 10 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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