12,000 per cent returns: This multibagger telecom infrastructure company reports a 160 per cent jump in net profit; announces bonus share!
The stock gave multibagger returns of 430 per cent in just 1 year whereas BSE Sensex Index is up by 13.95 per cent.
Today, one of the Top Gainers on BSE, shares of this multibagger company hit 20 per cent upper circuit to Rs 324.10 per share from its previous closing of Rs 270.10. The stock also made a new 52-week high of Rs 324.10 per share. At the closing bell, shares of the company were trading at Rs 317 per share, up 17.36 per cent with a spurt in volume by more than 5.15 times on BSE.
Before knowing the stock name, let us know why is this stock trending. Here are the details:
Quarterly Results: The net sales increased by 50 per cent to Rs 54.33 per cent, operating profit increased by 151 per cent to Rs 25.35 crore and net profit increased by 161.6 per cent to Rs 16.07 crore in Q2FY24 over Q2FY23.
Half-yearly Results: The net sales increased by 95.02 per cent to Rs 123.28 per cent, operating profit increased by 126.34 per cent to Rs 39.81 crore and net profit increased by 128.83 per cent to Rs 24.08 crore in H1FY24 over H1FY23.
Bonus Shares Update: The Board of Directors of the company has approved bonus shares in the ratio of 2:1 i.e., 2 equity shares for every 1 equity share held by the equity shareholder of the company as of a record date to be fixed thereon.
Earlier, the company 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. And ex-traded stock split of equity shares from a face value of Rs 10 to a face value of Rs 2 (Record date was August 14, 2023).
The company is a Small-Cap company having a market cap of over Rs 2,500 crore with a 3-year CAGR of 160 per cent. The shares of the company have a PE of 59x, an ROE of 31 per cent and a ROCE of 37 per cent.
The stock gave multibagger returns of 430 per cent in just 1 year whereas BSE Sensex Index is up by 13.95 per cent. This stock has been a phenomenal performer, with returns of over 1,500 per cent in 3 years and a whopping 12,000 per cent in 10 years.
The stock that is creating excitement is AVANTEL LTD.
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.
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Disclaimer: The article is for informational purposes only and not investment advice.