Rs 2,935 lakh order book & DIIs increase stake: This multibagger micro-cap telecom equipment company receives a new order worth USD 2,39,000 from Balkantel OOD
The stock gave multibagger returns of 235 per cent in just 1 year and a whopping 2,000 per cent in 5 years.
On Friday, one of the Top Gainers on BSE, shares of Valiant Communications Ltd gained 4.93 per cent and made a fresh 52-week high of Rs 469.50 per share from its previous closing of Rs 447.45. At the closing bell, shares of the company were trading at Rs 457.20 per share, up 2.18 per cent with a spurt in volume by more than 1.55 times on BSE.
The sudden rise in the stock price was due to the company receiving an order worth USD 2,39,000 from Balkantel OOD. The order includes a supply of communication and protection solutions as per the technical requirements of Bulgarian Power Utility ESQ EAD. The order will be delivered by June 30, 2024.
Earlier, Valiant Communications partnered with French firm CXR Anderson Jacobson SAS to market its products across France, neighbouring European countries, and French-speaking North Africa. To facilitate this, CXR representatives recently underwent a 3-day training program in New Delhi to gain expertise in Valiant's cyber security solutions. This collaboration aims to expand Valiant's reach and provide advanced cybersecurity solutions to a wider audience.
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Founded in 1993, Valiant Communications Ltd. is a leading manufacturer of communication equipment for utilities like power grids, offering a wide range of solutions including transmission, protection, synchronization, and cybersecurity with certifications in quality, customer satisfaction, environmental management, information security, and occupational health & safety, and boasting installations in over 110 countries. In December 2023, FIIs increased their stake to 0.98 per cent compared to 0.44 per cent in September 2023.
The company has a market cap of Rs 330 crore and the company order book stands at Rs 2,935 lakh. The expected execution period for these orders is the next 3 to 4 forthcoming quarters. The stock gave multibagger returns of 235 per cent in just 1 year and a whopping 2,000 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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