Multibagger stock hit 52-week high as company enters into MoU of Rs 45.64 crore with Alliance Telenet Pvt Ltd
The company has a market cap of Rs 1,448 crore and gave multibagger returns of over 400 per cent from its 52-week low of Rs 78.52 per share.
SAR Televenture Ltd has recently signed a Memorandum of Understanding (MoU) with Alliance Telenet Pvt Ltd to collaborate on the installation and commissioning of Smart Meters and Power of Resistance (POR) orders. This partnership aims to leverage the expertise of both companies to deliver efficient and reliable smart metering solutions. The MOU outlines the scope of the collaboration, which includes the installation of Smart Meters, the commissioning of POR orders, and the subsequent operation and maintenance of the installed meters. The total value of the agreement is Rs 45.64 crore.
As part of the MoU, Alliance Telenet Private Ltd has received orders from GMR Kashi Smart Meters Ltd and Genus Power Infrastructures Ltd for the commissioning of Smart Meters. SAR Televenture Ltd has been sub-contracted by Alliance Telenet Private Limited to undertake the installation and commissioning work. After the completion of this phase, both parties will share the costs and revenues associated with the operation and maintenance of the Smart Meters for 7 years on a 50:50 basis. This long-term partnership reflects the commitment of both companies to providing high-quality smart metering solutions and ensuring the efficient management of energy resources.
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About the Company
SAR Televenture Ltd is a telecommunications infrastructure provider established in 2019. The company specializes in constructing and maintaining 4G and 5G network towers, both independently and for clients on a contract basis. As an Infrastructure Provider Category-I (IP-I) registered with the Department of Telecommunication (DOT), SAR Televenture can lease out infrastructure such as GBT, RTT, pole sites, ODSC, dark fibers and more to telecom service providers. Their foreign subsidiary, SAR Televentures F.Z.E, is based in the United Arab Emirates and focuses on fiber cable installation and network equipment trading.
On Monday, SAR Televenture Ltd plunged 1.02 per cent to Rs 390 per share with an intraday high of Rs 413.70 and an intraday low of Rs 380.10. The stock made a new 52-week high of Rs 413.70 per share while its 52-week low is Rs 78.52 per share. The company has a market cap of Rs 1,448 crore and gave multibagger returns of over 400 per cent from its 52-week low of Rs 78.52 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
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