Micro-cap telecom services stock in green after the company receives new orders worth Rs 29,70,00,000 from Bharti Airtel Services Ltd!

As of September 2023, Foreign Institutional Investors (FIIs) increased their stake to 2.32 per cent from 1.86 per cent in June 2023.

Steelman Telecom Ltd informed that the company has received work orders worth of Rs 29,70,00,000 from Bharti Airtel Services Limited. The order includes network maintenance of Bharti Airtel Services Limited for 1 year.

Details: Services for infra technicians with safety and tool kits MS infra technicians insourcing.

Today, shares of Steelman Telecom Ltd gained 2.4 per cent to an intraday high of Rs 183.95 per share from its previous closing of Rs 176.65. The stock’s 52-week high is Rs 204 and its 52-week low is 121.85. Additionally, On December 18, 2023, Zyana Stocks and Commodities sold 1,15,200 shares via bulk deal as per data available on BSE.

Steelcom Telecom Ltd., established in 2003, is a multifaceted company excelling in both contractual maintenance and interior design endeavours. While their roots lie in maintenance work, they have since blossomed into a leading player in the telecommunications industry, boasting ISO 9001:2015 certification. Notably, Steelcom Telecom's impressive clientele includes industry giants like BSNL, Indus Tower, Airtel, and Power Grid, solidifying its reputation as a trusted partner in the telecommunications landscape.

Earlier, the company approved to issue of 10,00,000 fully convertible warrants, each convertible into, or exchangeable, at an option of proposed allottees, within a maximum period of 18 months from the date of allotment of warrants into an equivalent number of fully paid-up equity share of the company of face value of Rs 10 each at a price of Rs 171 to various promoters and non-promoters of the company.

The company has a market cap of Rs 177 crore. As of September 2023, Foreign Institutional Investors (FIIs) increased their stake to 2.32 per cent from 1.86 per cent in June 2023.

The stock is up over 50 per cent from its 52-week low of Rs 121.85 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.