Rs 8,221 crore order book: Vijay Kedia’s portfolio multibagger stock hits all-time high as the company reports turnaround story; PAT zooms over 1,300 per cent!

The stock gave multibagger returns of 479 per cent in just 3 years whereas BSE Telecommunication Index is up by 107 per cent.

The Indian stock market closed positive today, with both major indices in the green. The BSE Sensex Index rose 0.18 per cent and the NSE Nifty-50 Index increased by 0.15 per cent. The telecommunication sector led the gainers, with the BSE Telecommunication Index surging over 3 per cent today. Tejas Networks Ltd is one of the Top Gainers and a stock in particular focus.

The stock hit a 20 per cent upper circuit and made an all-time high of Rs 1,086.90 per share from its previous closing of Rs 905.75. The shares of the company saw a spurt in volume by more than 11 times on BSE.

The sudden rise in the stock price is due to the company announcing Quarterly Results, annual results and a robust order book for the fiscal year 2024. Here are the details:

Quarterly Results: The net sales increased by 343.3 per cent to Rs 1,326.88 crore in Q4FY24 compared to Q4FY23. The company reported a turnaround net profit of 146.78 crore in Q4FY24 while it reported a net loss of Rs 11.47 crore in Q4FY23; increasing by 1,379.7 per cent.

Annual Results: The net sales increased by 168.1 per cent to Rs 2,470.92 crore in FY24 compared to FY23. The company reported a turnaround net profit of 62.98 crore in FY24 while it reported a net loss of Rs 36.41 crore in FY23; increasing by 273 per cent.

Order Book: The company’s order book as of March 31, 2024, stands at Rs 8,221 crore.

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Tejas Networks Ltd is a global R&D-driven telecom equipment company headquartered in India. It designs, develops and manufactures high-performance optical and data networking products that are used by telecom service providers, utilities, government and defence networks.

The company has a market capitalization of over Rs 18,000 crore. Vijay Kedia, an ace investor, owns Kedia Securities Private Limited, which has a 1.87 per cent stake in Tejas Networks Ltd as of March 2024. Additionally, as of March 2024, the promoters own a 55.60 per cent stake, FIIs own an 11.33 per cent stake and DIIs own a 4.76 per cent stake.

The stock gave multibagger returns of 479 per cent in just 3 years whereas BSE Telecommunication Index is up by 107 per cent. Investors should keep an eye on this telecom stock.

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