The shares of this micro-cap stock hit a 5 percent upper circuit to a 52-week high price of Rs 489.50 per share after the company received a work order from Railtel Corporation of India for the installation of OFC cables for a value of Rs 25 crore.
On Tuesday, Kore Digital Ltd shares hit a 5 percent upper circuit to Rs 489.50 per share. The company has a market capitalization of Rs 172 crore.
The company received an order from Railtel Corporation of India Ltd for the installation of underground OFC for 35 km for a contract valued at Rs. 25 crores and the order is expected to be completed by Dec 2024.As per the exchange filing.
The company’s revenue has jumped by 140 percent yearly, from Rs 6.16 crore in FY Q2FY23 to Rs 15.02 crore in Q2FY24. In the same timeframe, Net profit has increased by 230 percent from Rs 0.94 crore to Rs 3.11 crore.
Kore Digital shares have gained 64 percent in the last three months and 27 percent in the last month. The company’s notable clients include Vodafone Idea Ltd, Bharti Airtel Limited, Reliance Jio, and Tata Teleservices.
The Company has commissioned 600+ pole-based cell sites in and around Mumbai and developed its network of around 450 KM underground optical fiber Ducts during the last 5 years.
Kore Digital Limited is a business of Telecommunication Infrastructure services and The company offers services like installing and commissioning Poles, Towers, and Optical Fibre Cable (OFC) Systems in Maharashtra.
As per the shareholding pattern, the company promoter holds a 71.38 percent stake in the company and the retail investor holds a 28.63 percent stake in the company.
Written by Omkar Chitnis
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