Multibagger penny stock under Rs 70 with Rs 7,078 crore order book: This telecom infrastructure company receives fresh orders worth Rs 67 crore!

The stock gave multibagger returns of 225 per cent in 3 years and over 750 per cent returns in 1 decade.

HFCL Ltd informed that the company along with its material subsidiary, HTL Ltd, has received the purchase orders aggregating to Rs 67 crore for the supply of Optical fiber cables to one of the domestic telecom service providers of the country. The order is from a domestic company and will be completed by April 2024.

HFCL Ltd (Himachal Futuristic Communications Limited) is a diverse telecom infrastructure enabler. As of September 2023, FIIs have increased their stakes to 8.35 per cent from 7.53 in June 2023 while DIIs have increased their stake to 4.64 per cent from 2.95 per cent in June 2023.

Talking about the financials, the company has a market cap of Rs 9,676 crore. According to the Quarterly Results, the company reported net sales of Rs 1,111.49 crore and net profit of Rs 69.53 crore in Q2FY24 compared to net sales of Rs 1,173.47 crore and net profit of Rs 84.34 crore in Q2FY23.

Order book update: As of September 30, 2023, the company’s order book stood at Rs 7,078 crore. Out of the total order book, Government orders are worth Rs 4,955 and private company orders are worth Rs 2,123 crore.

Today, shares of HFCL Ltd gained 1.10 per cent to Rs 68.45 per share from its previous closing of Rs 67.44. The stock gave multibagger returns of 225 per cent in 3 years and over 750 per cent returns in 1 decade. Investors should keep an eye on this Mid-Cap stock.

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