1:5 Stock Split: Small Cap Multibagger Telecommunications Stock Hits New 52-Week High

Shares of small cap stock operating in telecommunications sector, Avantel Ltd on Wednesday hit new 52-week high and gained 12% in morning trade on BSE. Avantel shares traded ex-split in the ratio of 1:5 on Monday, August 14 and witnessed a rally of 17%. Current market price of Avantel share is Rs 220.00 apiece. Avantel stock offered shareholders 123% return in last 3-months only and more than doubled their investment. Board of directors of Avantel fixed August 16, 2023 as the record date of stock split. Check details below:

Record Date For 1:5 Stock Split: According to the BSE filing of Avantel Ltd dated August 10, "In continuation to our earlier communication dated July 31, 2023 regarding sub-division of 1 (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 with effect from record date i.e. August 16, 2023, Please be informed that the Sub-Division of equity shares will take effect under the new ISIN - INE005B01027."

Avantel Dividend: The company also announced final dividend of Re 1/- per equity share and fixed June 16, 2023 as the record date. According to the BSE filing dated May 17, "Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements), 2015, Friday, June 16, 2023 is fixed as record date for taking record of the Members of the Company for the purpose of payment of final dividend of Re.1/- per equity share of nominal value of Rs.10/- each for the financial year 2022-23 as decided by the Board of Directors at their meeting held on May 17, 2023, subject to approval of the Shareholders."

Avantel Stock Performance & Return: Current market price of Avantel share is Rs 218.50 per share with intraday jump of 9.47% on BSE. The stock opened at Rs 204.00 apiece, touched day's high of Rs 234.95 apiece, and day's low of Rs 202.30 apiece, respectively. The company has a market capitalisation of Rs 1,771.81 crore. Its 52-week high price is Rs 234.95 apiece and 52-week low price is Rs 49.00 apiece, respectively. Avantel shares offered 191% return YTD, soared 343% in last 1-year, gained 501% in last 2-years, and offered return of 1113% in last 3-years.

Avantel Financial Performance: The company for the quarter ended June 30, 2023 declared its consolidated total income at Rs 69.15 crore, up 31.42% from last quarter total income of Rs 52.62 crore. It announced its recent quarter net profit after tax at Rs 8.01 crore.

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.

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