9,000 per cent returns in this multibagger stock: Board likely to announce bonus shares after stock split; scrip jumps over 9 per cent!
The stock gave multibagger returns of 320 per cent in just 1 year whereas BSE Sensex Index is up by 16.70 per cent.
Avantel Ltd informed that a meeting of the Board of Directors of the company will be held on Monday, October 9, 2023, inter alia, to consider the following:
1) To consider and approve the Un-audited Financial Results of the Company for the Second Quarter ended September 30, 2023; and
2) may consider the proposal for the issue of "bonus shares" by the capitalisation of reserves, subject to the approval of the shareholders of the company.
Recently, 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.
Earlier, 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 surged 9.36 per cent to an intraday high of Rs 259.95 per share from its previous closing of Rs 234.95. At 03:30 pm, shares of the company ended the trading session in the green, up 7.09 per cent to Rs 251.60 per share.
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 1,040 crore with a 3-year CAGR of 132 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 320 per cent in just 1 year whereas BSE Sensex Index is up by 16.70 per cent. This stock has been a phenomenal performer, with returns of over 1,100 per cent in 3 years and over 9,000 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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