Multibagger telecom stock in focus today ahead of Q2 earnings, likely bonus issue
The stock has zoomed 1,287% in three years and delivered 563% returns in two years. The telecom stock hit a 52-week low of Rs 57.62 on October 7, 2022 .
- Oct 9, 2023,
- Updated Oct 9, 2023 3:32 PM IST
Shares of multibagger Avantel Ltd are in focus today as the firm is set to announce its earnings for the quarter ended September 2023. The board of the telecom equipment firm will also consider a bonus issue of shares by capitalisation of reserves, subject to approval of the shareholders of the company. Avantel stock has zoomed 1,287% in three years and delivered 563% returns in two years. In the afternoon session today, Avantel stock fell 1.40% to Rs 268.05 on BSE. Avantel stock hit a record high of Rs 290.40 on October 5. On the other hand, Avantel hit a 52-week low of Rs 57.62 on October 7, 2022.
The stock opened lower at Rs 268.60 on Monday against the previous close of Rs 271.85 on BSE. Market cap of the firm fell to Rs 2180.91 crore on BSE. The stock has risen 347% in a year and zoomed 250% in 2023. Avantel shares have a beta of 1.1, indicating high volatility in a year.
In terms of technicals, the relative strength index (RSI) of the Avantel stock stands at 66.7, signaling it's trading neither in the overbought nor in the oversold zone. Avantel shares are trading higher than the 20 day, 50 day, 100 day , 150 day and 200 day but lower than the 5-day moving averages.
Avantel reported a 155% increase in June quarter revenue to Rs 69.2 crore against Rs 27.1 crore in Q1 of the previous fiscal. Operating profit zoomed 93% to Rs 14.3 crore in Q1 of this fiscal against Rs 7.4 crore in the June 2022 quarter. Net profit climbed 82% to Rs 8 crore in Q1 against Rs 4.4 crore in the June 2022 quarter.
Avantel is engaged in the manufacturing of wireless front-end, satellite communication, embedded systems, signal processing, network management and software development and rendering related customer support services.
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Shares of multibagger Avantel Ltd are in focus today as the firm is set to announce its earnings for the quarter ended September 2023. The board of the telecom equipment firm will also consider a bonus issue of shares by capitalisation of reserves, subject to approval of the shareholders of the company. Avantel stock has zoomed 1,287% in three years and delivered 563% returns in two years. In the afternoon session today, Avantel stock fell 1.40% to Rs 268.05 on BSE. Avantel stock hit a record high of Rs 290.40 on October 5. On the other hand, Avantel hit a 52-week low of Rs 57.62 on October 7, 2022.
The stock opened lower at Rs 268.60 on Monday against the previous close of Rs 271.85 on BSE. Market cap of the firm fell to Rs 2180.91 crore on BSE. The stock has risen 347% in a year and zoomed 250% in 2023. Avantel shares have a beta of 1.1, indicating high volatility in a year.
In terms of technicals, the relative strength index (RSI) of the Avantel stock stands at 66.7, signaling it's trading neither in the overbought nor in the oversold zone. Avantel shares are trading higher than the 20 day, 50 day, 100 day , 150 day and 200 day but lower than the 5-day moving averages.
Avantel reported a 155% increase in June quarter revenue to Rs 69.2 crore against Rs 27.1 crore in Q1 of the previous fiscal. Operating profit zoomed 93% to Rs 14.3 crore in Q1 of this fiscal against Rs 7.4 crore in the June 2022 quarter. Net profit climbed 82% to Rs 8 crore in Q1 against Rs 4.4 crore in the June 2022 quarter.
Avantel is engaged in the manufacturing of wireless front-end, satellite communication, embedded systems, signal processing, network management and software development and rendering related customer support services.
Also read: Hot stocks on October 9, 2023: Adani Power, Suzlon Energy, Vakrangee, MCX, Tata Power and more
Also read: TCS share buyback, Q2 results timing, dividend, buyback history, analyst views & more