Multibagger penny stock at Rs 32: Company receives approval from Ministry of Information and Broadcasting regarding downlinking permission for ABC Australia Channel
The stock gave multibagger returns of 185 per cent from its 52-week low of Rs 11.22 per share.
On Tuesday, shares of Catvision Ltd gained 8.3 per cent to an intraday high of Rs 32 per share from the previous closing of Rs 29.56. The stock gave multibagger returns of 185 per cent from its 52-week low of Rs 11.22 per share. The shares of the company saw a spurt in volume by more than 1.01 times on BSE. The company has a market cap of Rs 17 crore.
Catvision Limited has received approval from the Ministry of Information and Broadcasting (MIB) to downlink and broadcast the "ABC Australia" channel. This channel is operated by the Australian Broadcasting Corporation, an Australian Government entity. The approval grants Catvision exclusive rights to broadcast the channel in India for the next 10 years. This is a significant win for Catvision as this agreement is expected to be a major revenue generator, bringing in USD 1,18,896 (approximately Rs 1,00,00,000) per year.
The Ministry of Information and Broadcasting has outlined the financial obligations for downlinking the channel. These include:
- Annual Permission Fee: Rs 15 lakh.
- One-time Registration Fee: Rs 10 lakh.
- Security Deposit: Rs 30 lakh Catvision is committed to fulfilling these requirements within the stipulated timeframe of 30 days. This payment will secure their compliance and enable the issuance of the final Permission Letter from the MIB for the "ABC Australia" channel.
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About the Company
Catvision Ltd, founded in 1985, is an Indian company that designs, manufactures, and sells equipment for cable television (CATV), satellite master antenna television (SMATV), and internet protocol television (IPTV). They also provide related services like channel marketing.
Operating across India and internationally, Catvision has four main divisions: Cable TV & GPON offering internet and networking solutions, Hospitality supplying pay TV services to hotels and equipment to institutions, Channel Distribution bringing foreign channels to various operators & Online Sales featuring consumer electronics and internet-of-things products. Their product portfolio includes digital headends, set-top boxes for cable and satellite TV, fibre-to-the-home (FTTH) solutions, hybrid fibre-coax (HFC) equipment, pay TV services, and international channel distribution. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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