Multibagger Telecom Sector Small Cap Stock Approves Stock Split, In 3 Yrs Jumps 998.76%

Avantel Ltd. in a Board meeting held on Friday, June 23, 2023, informed the exchange that it has approved for Sub-division/split of existing Equity Shares of the Company from 1 Equity Share having a face value of Rs.10 each fully paid-up, into 5 Equity Shares having face value of Rs.2 each fully paid-up.

The Stock Split is subject to the approval of Equity Shareholders of the Company through a Postal Ballot.

Avantel is a small-cap BSE-listed company. The company operates in the Telecom - Equipment & Accessories sector. It has a market capitalisation of Rs. 1,135.34 crore.

Sub-division/Split

In an exchange filing, the Board of Directors of the company said, "Approved for Sub-division/split of existing Equity Shares of the Company from l (One) Equity Share having face value of Rs.10/- (Rupees Ten only) each fully paid-up, into 5 (Five) Equity Shares having face value of Rs.2/- (Rupees Two only) each fully paid-up, subject to the approval of Equity Shareholders of the Company through Postal Ballot. The Record Date for sub-division/split of existing Equity Shares shall be decided after taking the aforesaid approval of the Equity Shareholders of the Company."

Stock Movement

On Friday, the shares of Avantel Ltd..last traded on BSE at Rs. 700.05 apiece, 1.66% higher as compared to the previous close of Rs. 688.60 apiece. The stock hit an intraday high of Rs. 710 apiece and an intraday low of Rs. 670.05 apiece. Its 52 week high is Rs. 711, while the 52 week low is Rs.236.90.

The stock jumped 2.69% in 1 week. It gave a strong return of 38.46% in the past 1 month and 78.68% in the past 4 months, respectively. It gave a 129.29% multibagger return in 1 year. In the past 3 years, it gave a multibagger return of 998.76%. In 5 years, it gave a 673% positive return.

Disclaimer

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