16,000 per cent Multibagger Returns: This Defence Electronic Stock Under Rs 210 Hits Upper Circuit & 52-Week High Today!
The company’s shares have delivered an impressive return of over 300 per cent in just 1 year only.
Avantel Limited is engaged in designing, developing, and maintaining wireless and satellite communication products, defence electronics, and radar systems, and developing network management software applications for its customers, primarily from the aerospace and defense sectors.
Avantel Limited has informed that the meeting of the Board of Directors of the Company will be held on Friday, July 19, 2024, to consider and approve, among other agenda items, the Unaudited Financial Results of the Company for the First Quarter ended June 30, 2024.
Read: Rahul Gandhi’s 260 Shares Became 5200 Shares; Stock Hits Upper Circuit Today
At the start of the day's trading session, the stock opened at Rs 191 per share, compared to the previous day's closing figure of Rs 188.05 per share on the BSE. Finally, the shares closed at Rs 206.20 per share on the BSE. The stock has reached the upper circuit price limit of 10 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. The company's current market capitalization stands at Rs 5016.22 crore, and the stock has generated an impressive return of over 300 per cent in the past 1 year.
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As per the Quarterly Results, in the fourth quarter of FY24, Avantel Limited recorded a revenue of Rs 42 crore. The operating profit for Q4 FY24 stood at Rs 19 crore. The net profit for Q4 FY24 was Rs 13 crore. Looking at the annual performance, the company generated a revenue of Rs 224 crore in FY24, compared to Rs 154 crore in FY23. The operating profit for FY24 was Rs 84 crore, with a net profit of Rs 55 crore.
Regarding the shareholding pattern of Avantel Limited, the promoters own 40.06 per cent of the company and the public or retail investors hold 59.94 per cent.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.