Vijay Kedia Portfolio’s Tata Group Multibagger Stock Hits 52-Week High with Heavy Volumes - Must-Watch

The shares of the company have delivered a return of over 680 per cent to its shareholders.

This Large-Cap Telecom equipment company Incorporated in 2000, TNL designs and manufactures wireline and wireless networking products with a focus on technology, innovation, and R&D. TNL's carrier-class products are utilized by telecom service providers, utilities, governments, and defence networks in over 75 countries. The company is currently a part of Panatone Finvest Limited, a subsidiary of Tata Sons Private Limited. Today the company experienced a significant surge in its share price.

Today, the company’s stock rallied over 10 per cent, hitting a 52-week high. On the BSE, trading volume saw a significant increase, surging over 2 times. At the start of the trading session, Tejas Networks Ltd opened at Rs 1299.55 per share, compared to the previous day's closing of Rs 1284.50 per share on the BSE. As of the time of writing, shares are currently trading at Rs 1379.85 per share on the BSE. The current market capitalization of Tejas Networks stands at Rs 23,583 crore, and the stock has generated an impressive multibagger return of around 683 per cent in just 3 years. 

Financial Performance

According to the Quarterly Results, in the fourth quarter of FY24, the company achieved a revenue of Rs 1327 crore. The operating profit for Q4 FY24 reached Rs 306 crore, resulting in an operating profit margin of 23 per cent. The net profit for Q4 FY24 amounted to Rs 147 crore. Reviewing the annual performance, the company has shown significant turnaround progress, reporting a revenue of Rs 2471 crore in FY24, compared to Rs 922 crore in FY23. The operating profit for FY24 reached Rs 266 crore. Compared to the losses incurred over the past 2 years, the company reported a profit of Rs 63 crore.

Regarding the shareholding pattern, the promoters possess 55.60 per cent of the company, while FIIs and DIIs hold 11.33 per cent and 4.76 per cent, respectively. Public or retail investors hold the remaining 28.31 per cent. Furthermore, ace investor Vijay Kedia owns 1.87 per cent

Investors must keep this large-cap multibagger stock on their radar.

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