Bonus Issue Soon: Multibagger Small Cap Stock Jumps Over 7% Intraday On BSE

Small cap stock from the telecommunications sector, Avantel Ltd shares soared 7.09% intraday on BSE on September 29, 2023. Board of directors of Avantel Ltd on September 28 announced that the company will hold its meeting on October 9, 2023 to consider and approve un-audited financial results and take into consideration proposal of bonus shares on the same day. Avantel stock has been offering attractive returns to investors as it jumped 219% in last 6-months and 320% in last 1-year. Check details below:

Avantel Set To Announce Q2 Financial Results, Bonus Share On Oct 9: As per the regulatory filing of Avantel dated September 28, 2023, "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 Outlook & Return Over Last Few Years: Last trading price of Avantel stock on BSE is Rs 251.60 apiece with intraday gain of 7.09%. Its 52-week high price is Rs 273.70 per share and 52-week low price is Rs 57.62 per share, respectively. Avantel has a market capitalisation of Rs 2040.22 crore. Avantel gave shareholders return of 228% YTD, soared 320% in last 1-year, gained 491% in last 2-years, and jumped 1128% in last 3-years. In last 5-years, Avantel stock witnessed a rally of 1864%.

Avantel 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 EBITDA announced at Rs 14.46 crore in June 2023, up 93.32% as against Rs 7.48 crore in June 2022. Avantel's quarterly net profit declared at Rs 8.01 crore in June 2023, up 82.84% as compared to Rs 4.38 crore declared in June 2022.

Avantel About: Avantel provides 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.