2:1 Bonus Issue: Multibagger Telecom Stock Declares Bonus Shares After Market Hours

Small cap stock operating in telecommunications sector, Avantel Ltd on Monday announced bonus shares in the proportion of 2:1 implying shareholder will get 2 bonus shares for every 1 share held as on the record date. Last trading price of Avantel share is Rs 270.10 per share with intraday fall of 0.64%. Avantel share offered shareholders return of 349% in last 1-year and 563% return in last 2-years. Check details pertaining to the stock below:

Avantel Announces 2:1 Bonus Share: According to the BSE filing of Avantel dated today, "The Board of Directors has considered, approved and recommended the issue of Bonus Shares in the ratio of 2:1 i.e., 2 Equity Shares for every 1 equity share held by the equity shareholder of the Company as on a Record Date to be fixed thereon. The bonus issue of equity shares is subject to the approval of the shareholders through Postal Ballot, and any other applicable statutory and regulatory approvals, as may be required."

Avantel Stock Outlook & Return In last Few Years: Last trading price of Avantel stock is Rs 270.10 apiece on BSE. Its 52-week high price is Rs 290.40 per share and 52-week low price is Rs 57.62 per share, respectively. The company has a market capitalisation of Rs 2190.24 crore. Avantel shares soared 252% YTD, gained 349% in last 1-year, jumped 563% in last 2-years, and gained 287% in last 3-years. Avantel stock offered a rally of 2384% in last 5-years and shares jumped 10,328% in last 10-years.

Avantel Recent Financial Outlook: The company for the quarter ended June 30, 2023 announced net sales at Rs 68.95 crore, up 155.47% as against Rs 26.99 crore in June 2022. Its quarterly net profit decalred 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.