Heavy buying: Back-to-back upper circuit in this multibagger stock; bags new order worth Rs 130 crore!

Shares of the company gained more than 500 per cent in less than one year.

Shares of Kore Digital Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock has been locked in the upper circuit for the last two days.

Kore Digital has secured a major win with a joint venture project alongside OSR Teleservices. This prestigious contract involves laying optic fibre cable ducts and building other telecom infrastructure along the Mumbai Nagpur Samruddhi Highway. The project boasts a 15-year concession period with a 10-year extension option and a construction timeframe of 2 years.

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The project involves installing six ducts, three on each side of the highway. Based on current rates set by the Maharashtra State Road Development Corporation (MSRC), the project is expected to generate annual revenue of approximately Rs. 130 crores, leading to a total net revenue of over Rs. 1500 crore upon completion. This win is anticipated to boost Kore Digital's net profit percentage beyond initial projections.

The shares of Kore Digital Limited have also delivered multibagger returns to its shareholders. During this period, the company's share price surged from Rs 190.95 on June 14, 2023, to Rs 1194.00 on March 19, 2024, representing an increase of about 500 per cent in less than one-year holding period.

Kore Digital Limited operates as a Telecommunication Infrastructure Provider and offers high-end communication solutions to corporate and Telecom Network Operators.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.