Telecomm stock hits 5% upper circuit after company to expand its operations

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Telecomm stock hits 5% upper circuit after company to expand its operations
Credit: © Reuters.

Multibagger stock engaged in offering a comprehensive range of IT/OT communication, protection, synchronization, cyber-security products, and many more, hit a 5 percent upper circuit in the day’s trade upon signing a strategic collaboration to develop and expand operations.

With a market capitalization of Rs. 446 Crores, the shares of Valiant Communications Limited hit a 5 percent upper circuit in the day’s trade at Rs. 584.65, from its previous day’s close price of Rs. 556.85. It has delivered multibagger returns of 278 percent in a year.

Valiant Communications Limited and Fortytwo42 Technology Innovations Private Limited (“FT42”) have agreed to cooperate in integrating, creating synergies, and marketing of respective Quantum-safe cryptography products with Valiant’s cyber-security solutions to domestic and international customers

Fortytwo42 Technology Innovations Private Limited specializes in the field of postquantum cryptography and offers a Quantum digital trust platform. The platform is being used by government & defense establishments, BFSI, and enterprises in niche applications ranging from Identity security, data security, access security, messaging security, IoT security, and secure key exchange mechanisms

Valiant Communications Limited offers a comprehensive range of IT/OT communication, protection, synchronization, and cyber-security products designed for Critical Infrastructure Industries (CII) including Utilities & SCADA applications with successful installations in over 110 countries

It is a manufacturer and exporter of a wide range of communications, transmission, protection, synchronization, and cyber security products. It is an approved manufacturer to some of the major power utilities including Power Grid (NS: PGRD ) Corporation (India) and various National and State Electricity Boards.

Its Revenue from operations grew by 35.88 percent from Rs. 9.03 Crores in Q3FY23 to Rs. 12.27 Crores in Q3FY24, accompanied by profits of Rs. 74 Lakhs of Rs. 1.38 Crores.

Written by: Bharath KS.

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