Multibagger penny stock at Rs 26.88 hit back-to-back upper circuits after the company successfully agreed with ABC Australia
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 11.22 per share.
<div class="product-text-box"><p>DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do <a href="/products-services/for-investor/penny-pick?lf=t&Campaign=article_productnote&Source=PP_productnote" rel="noreferrer noopener" target="_blank">download the service details here.</a></p></div> On Friday, shares of Catvision Ltd hit a 5 per cent upper circuit to Rs 26.88 per share from the previous closing of Rs 25.60. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 11.22 per share. The company has a market cap of Rs 14.66 crore.
In the recent trading sessions, the stock has been hitting back-to-back upper circuits because Catvision Limited has secured a significant win with the Ministry of Information and Broadcasting (Government of India) approving their application to downlink and broadcast the "ABC Australia" Channel. This channel is operated by the Australian Broadcasting Corporation, an entity of the Australian Government. This approval grants Catvision Limited exclusive rights to broadcast the "ABC Australia " Channel in India for the next 10 years. This agreement is expected to be a major revenue generator for Catvision Limited, bringing in USD 1,18,896 (approximately Rs 1,00,00,000 per annum).
Further details of the agreement reveal that Catvision Limited has successfully concluded an agreement with the Australian Broadcasting Corporation to secure these exclusive broadcasting rights. It's important to note that this agreement is with an international entity (Australian Government entity) and there is no involvement of the Promoter/Promoter Group or Group Companies of Catvision Limited with the Australian Broadcasting Corporation. The agreement itself is for broadcasting purposes and is not considered a related party transaction.
Also Read: After Rs 7,000 crore orders from Adani Group, this heavy electrical equipment company likely to bags another huge order worth Rs 13,300 crore from Damodar Valley Corporation
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, and 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.
Related articles
-
1:3 bonus shares & stock split from Rs 10 to Re 1 in FY24: 6,400 per cent returns in this multibagger penny stock below Rs 30; Scrip up by 4.9 per cent today!
-
Dheeraj Lohia's portfolio multibagger penny stock hit 10 per cent upper circuit; opens offer for public shareholders post stellar quarterly & nine-month results!
-
Multibagger penny stock below Rs 5 hit upper circuit as the Board fixed record date for bonus shares in ratio of 1:5
-
Penny stock at Rs 22 and promoters sold 3,03,39,541 shares: This micro-cap company bags new orders worth Rs 69.33 crore from various clients across India
-
4:1 Bonus Share: Multibagger penny stock under Rs 100 with Rs 1,440 crore order was locked in 20 per cent upper circuit on January 20
-
From Rs 7.58 to Rs 16.23 per share in less than 1 month: Heavy buying witnessed in this multibagger penny stock; hit back-to-back upper circuits & 52-week highs!
-
40 per cent in just 2 days: Dheeraj Lohia bought 4,50,000 shares of this multibagger penny stock; scrip hit upper circuit and 52-week high!
-
Multibagger penny stock below Rs 30 hit upper circuit: Board announces rights issue; stock trades at high ROE & ROCE!
-
FIIs bought 1,71,80,366 shares of this multibagger penny stock with Rs 361 crore order book; scrip hit upper circuit!
-
Upper Circuit Alert: Multibagger penny stock below Rs 80 to trade ex-bonus & ex-split on December 29; PAT zooms over 2,500 per cent!
-
Multibagger penny stock below Rs 30: This micro-cap company bags new orders worth Rs 78,70,000 from Government of West Bengal!
-
Promoters of the company bought 1,70,00,000 shares & FIIs bought 80,00,000 shares of this multibagger penny stock; scrip hit upper circuit!
-
High ROE & ROCE multibagger penny stock below Rs 30 and FIIs increase stake: This micro-cap textile scrip hit 20 per cent upper circuit after 1:3 bonus shares!
-
Multibagger penny stock under Rs 40: This micro-cap company is placing 20 vehicles at Bidadi Plant of Hindusthan Coca-Cola Bewerage Pvt Ltd; know more here!
-
Ashish Kacholia’s portfolio multibagger penny stock: The company signs binding term sheet with Zinnia Global Fund and Nova Global Opportunities Fund – know more here!
-
Multibagger penny stock below Rs 10 with 1,000 per cent returns hit upper circuit; PAT zooms over 200 per cent & FIIs increase stake – Do you own it?
-
1200-per cent returns in this multibagger penny stock below Rs 100: Board announces bonus shares; hit back-to-back upper circuits & 52-week high!
-
Heavy Buying: FIIs-backed multibagger penny stock under Rs 10 hit upper circuit & 52-week high; PAT zooms over 200 per cent!
-
Rs 400,00,00,000 Revenue: This micro-cap company bags largest redevelopment project of 1,48,000 square feet in western suburbs – Borivali West!
-
President of India’s portfolio gains Rs 692,66,49,904 from this multibagger penny stock in just 1 day; scrip hit upper circuit!