From Rs 7.53 to Rs 29.52 per share in just 1 year: Debt-free multibagger defence telecom stock hit back-to-back upper circuits & 52-week highs!
The stock also made a fresh new 52-week high of Rs 29.52 per share while its 52-week low is Rs 7.53 per share, gaining multibagger returns of 292 per cent in just 1 year.
Today, shares of Kavveri Telecom Products Limited was locked in 2 per cent upper circuit to Rs 29.52 per share from its previous closing of Rs 28.95. The stock also made a fresh new 52-week high of Rs 29.52 per share while its 52-week low is Rs 7.53 per share, gaining multibagger returns of 292 per cent in just 1 year.
In the recent trading sessions, the stock has been hitting back-to-back upper circuits & 52-week highs as on July 18, 2024, the Board inter alia, has approved the initiate the change in name of the company to KAVVERI DEFENCE & WIRELESS TECHNOLOGIES LIMITED from KAVVERI TELECOM PRODUCTS LIMITED.
Earlier, Kavveri Telecom, a top wireless subsystem maker, landed a major Rs 109 million order for homegrown radio frequency products and antennas. This aligns with the Make in India initiative, boosting domestic production. Kavveri's R&D investment paid off, and they now eye global markets to make India a telecom equipment manufacturing hub.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Kavveri Telecom is a leading wireless products manufacturer, providing world-class hardware products and solutions for the telecom, defence and space industry. Kavveri Telecom combines expertise with experience to deliver state-of-the-art products and solutions spanning the wide spectrum of the wireless Industry up to 18 GHz frequency range. The diverse range of products manufactured by Kavveri includes Antennas, RF (Radio Frequency) Components, Filters, Combiners, Multi-couplers, Repeaters, TMA/TMB and many more.
The company has a market cap of Rs 59.41 crore and it's completed debt-free as of March 2024. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Multibagger penny stock under Rs 35 from textile sector to keep under the radar as Board is likely to announce rights issue or QIP