Union Bank of India-backed multibagger penny stock under Rs 20 from the telecom sector, Reports a 165 per cent jump in PAT
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 6.84 per share.
On Wednesday, the BSE Sensex Index was in green, up 150 points or 0.19 per cent at 79,106 and the NSE Nifty-50 Index was also in green, up 5 points or 0.02 per cent at 24,144. Considering broader markets, the BSE Small-Cap index plunged 0.57 per cent to a level of 52,995.
As the market was performing was trading mixed, shares of GTL Ltd gained 1.64 per cent to an intraday high of Rs 14.25 per share from its previous closing of Rs 14.09. At the closing bell, shares of the company were trading at Rs 13.75 per share, down 1.93 per cent. The stock has a 52-week high of Rs 19.70 and a 52-week low of Rs 6.84
GTL Ltd is a network services company, offering services and solutions to address the network life cycle requirements of telecom operators, technology providers (OEMs) and tower companies.
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Talking about the financials, GTL Ltd has a market cap of Rs 216.28 crore. The company reported excellent results in its Quarterly Results (Q1FY25) and annual results (FY24). According to quarterly results, the net sales increased by 37 per cent to Rs 63.06 crore and net profit increased by 165 per cent to Rs 12.89 crore in Q1FY25 compared to Q1FY24.
As of June 2024, Union Bank of India owns a 4.80 per cent stake in the company. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 6.84 per share. Investors should keep this penny stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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