🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Stock hits upper circuit after it secured order worth ₹ 10.9 Cr for radio frequency products

Published 19-06-2024, 01:51 pm
Stock hits upper circuit after it secured order worth ₹ 10.9 Cr for radio frequency products

On Wednesday, the share price of a leading wireless subsystem manufacturer hit a 2 percent upper circuit on BSE to Rs. 19.19, after the company bagged a purchase order worth Rs. 10.9 crore under the Make in India initiative in India.

With a market capitalisation of Rs. 38.62 crore, the shares of Kavveri Telecom Products Limited opened at Rs. 19.19, as against its previous closing price of Rs. 18.82.

Is Kavveri Telecom Products Ltd (NS:KATL) a buy or sell? Click here to get an InvestingPro subscription for a special discount of 74% at an unbelievable price of only Rs 182 per month

The above link works best from a laptop/desktop and not apps.

According to the latest regulatory filings with the stock exchanges, Kavveri Telecom Products secured a purchase order worth Rs. 10.9 crore for Radio Frequency products and Antennas under the Make in India initiative for a mission-critical project in India.

Kavveri developed these products at its Research and Development centre in India for the first time under the Make in India initiative.

The company is currently endeavouring to procure orders from overseas markets with an end aim to be a global manufacturing hub for its products in India under the Make in India initiative.

In terms of financials, the company reported a decline in the revenue from operations by 43.3 percent YoY, from Rs. 2.82 crore in FY22-23 to Rs. 1.6 crore in FY23-24, while the after-tax profit decreased from a profit of Rs. 31.5 crore in FY22-23 to a loss of Rs. 1.33 crore in FY23-24.

As per the shareholding pattern of March 2024, the Promoters hold a 15.14 percent stake in the company, Foreign Institutional Investors (FII) hold a 13.01 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 71.84 percent and 0.02 percent stake in Kavveri Telecom, respectively.

Kavveri Telecom’s shares have delivered 102.8 percent of multibagger returns in one year, and nearly 30 percent of positive returns in the last six months. So far in 2024, the stock has given around 31 percent returns.

Kavveri Telecom Products Limited provides hardware products and solutions for the telecom, defence and space industries, and delivers advanced products and solutions spanning the wide range of wireless Industry up to 18 GHz frequency range.

The company’s diverse range of products manufactured includes antennas, RF (Radio Frequency) components, filters, combiners, multi-couplers, repeaters, TMA/TMB and more.

Introducing InvestingPro

Through InvestingPro, you can beat the markets with premium insights:

  • Find Undervalued/Overvalued Stocks: Reveal the unbiased Fair Value of any stock based on 1,200+ premium metrics, covering 180,000+ companies worldwide.
  • Instant Financial Bottom Line: Make fully-informed investing decisions with ProTips, bite-size insights that flag risks and rewards on any stock.
  • Discover Overlooked Stocks With Pre-Built Screeners: Find the ideal value stocks to match your investing style, all based on 100% trusted data.
  • Get AI-Enhanced Stock Picks: Receive regularly updated ProPicks for any investing strategy, each with a proven track record to beat the S&P 500
  • Boost Your Picks with Data: Instantly see a company's long-term sustainability and Financial Health to know if it's truly a solid investment.
  • Always Pick the Winner: Make instant Peer Comparisons based on over a dozen valuation benchmarks to ensure you always select a top dog.
  • Get Ideas From Top-Performing Portfolios: See the investments of any firm, fund or private investor with over $100 million in holding assets to discover new ideas.

Now, coming to the great news! For the benefit of our users, we have reduced the prices on all of our Pro and Pro+ plans by almost 74% for a limited period.

Click here to get an InvestingPro subscription for a special discount of 74% at an unbelievable price of only Rs 182 per month

The above link works best from a laptop/desktop and not apps.

Written by Shivani Singh


The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post Stock hits upper circuit after it secured order worth ₹ 10.9 Cr for radio frequency products appeared first on Trade Brains.

Read More

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.