Multibagger stock below Rs 100: This mid-cap company receives order worth Rs 206.67 crore!
The stock gave multibagger returns of 143.77 per cent in the last two years.
Today, shares of HFCL Ltd surged 3.53 per cent to Rs 70.45 per share from its previous closing of Rs 68.05. The stock has a 52-week high of Rs 88.80 and a 52-week low of Rs 51.55.
The company informed the stock exchange that it received purchase orders for various types of optical fiber cables worth Rs 206.67 crore from Reliance Projects & Property Management Services Limited (Formerly Reliance Digital Platform & Project Services Limited) and Reliance Retail Limited. The order will be executed by June 2023.
HFCL Ltd (Himachal Futuristic Communications Limited) is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration and manufacture and supply of high-end telecom equipment, optical fiber and optic fiber cable (OFC).
Talking about the financials, HFCL Ltd has a market cap of Rs 9,630.5 crore. The company recently declared its quarter results (Q3) where the company reported positive results. In Q3FY23, the company did net sales of Rs 1086 crore and net profit was Rs 102 crore respectively.
The company's shareholding pattern is as follows: promoters own 39.24 per cent of the company, FIIs own 6.52 per cent, DIIs own 2.64 per cent and the general public owns the remaining 51.6 per cent as of December 2022. The stock has returned 5.70 per cent in the last six months and it gave multibagger returns of 143.77 per cent in the last two years.
Investors should keep an eye on this Mid-Cap stock.