This telecom equipment company has delivered fantastic returns of over 250% in just one year; do you hold it?

Avantel Limited has delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 55.45 on September 21, 2022, to Rs 217.70 on September 21, 2023, an increase of more than 250% in a one-year holding period.

An investment of Rs 1 lakh in the shares of this company one year ago would have turned to Rs 3.50 lakh today.

Earlier last week, the company bagged an order worth Rs 7.03 crore. The order is from Material Organisation, Visakhapatnam for the supply of MSS TX – RX Terminals M-II.

Avantel Limited has reported a strong first quarter for FY24, with a net profit growth of 82.86% to Rs 8.01 crore, compared to Rs 4.38 crore in the same quarter last year. The operating profit also saw a significant increase of 93.08%. The total income for the quarter increased by 155.11% to Rs 69.15 crore, compared to the previous year’s same quarter.

Avantel Limited is engaged in the designing, developing and maintaining wireless and satellite communication products, defence electronics, radar systems and the development of network management software applications for its customers predominantly from the aerospace and defence sectors. Avantel undertakes R&D activities for the development of innovative solutions in related areas.

Today, the stock opened at Rs 205, with a high and low of Rs 241 and Rs 204.15, respectively. The stock ended the trading session at Rs 217.70, up by 6.69%. The stock has a 52-week high of Rs 273.70 and a 52-week low of Rs 54.40.

The stock has shown impressive growth and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.