Bonus Issue, Q2 Results In Oct: Small Cap Telecom Stock Jumps 218% In 6-Months

Small cap stock operating in telecommunications sector, Avantel Ltd on September 28 announced that its board of directors will meet on October 9, 2023 to consider and approve un-audited financials results and consider proposal of bonus shares as well. Avantel share offered shareholders return of 218% in 6-months and rose 420% in last 2-years. Last trading price of Avantel stock is Rs 234.45 per share with intraday gain of 3.49%. Check details below:

Avantel Ltd To Declare Q2 Financial Results, Bonus Share Next Month: According to the BSE filing of the company issued today, "Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of the Company will be held on Monday, October 9, 2023, inter alia, to consider the following: 1) To consider and approve the Un-audited Financial Results of the Company for the Second Quarter ended September 30, 2023; and 2) may consider the proposal for issue of "Bonus Shares" by capitalisation of reserves, subject to approval of the shareholders of the Company."

Avantel Shares Performance & Return: Current market price of Avantel stock is Rs 234.45 on BSE. Its 52-week high price is Rs 273.70 per share and 52-week low price is Rs 56.70 per share, respectively. The company has a market capitalisation of Rs 1901.15 crore. Avantel shares jumped 205% year-to-date, gained 309% in last 1-year, soared 470% in last 2-years, and offered return of 1037% in last 3-years. In last 5-years, Avantel share gained 1729.82%.

Avantel Financial Performance: The company for the quarter ended June 30, 2023 declared its net sales at Rs 68.95 crore, up 155.47% as against Rs 26.99 crore in June 2022. Its quarterly net profit announced at Rs 8.01 crore in June 2023, up 82.84% as compared to Rs 4.38 crore declared in June 2022. Its EBITDA stood at Rs 14.46 crore in June 2023, up 93.32% as against Rs 7.48 crore in June 2022.

Avantel About: "Avantel offers innovative, customized network centric solutions through products that comply with MIL standards for defence platforms including ships/submarines/aircraft/helicopters", according to its official website.

Disclaimer

The stock just highlights the bonus share, Q2 result, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.