This micro-cap telecom company receives order worth Rs 10 crore from Bharat Sanchar Nigam Limited (BSNL)!

The future guidance for FY24 which is projected sales at Rs 32 crore and PAT of Rs 4.5 crore.

Kore Digital Limited announce the successful negotiation of a work order worth Rs 10 crore for the erection of towers in Maharashtra through the vendor of Bharat Sanchar Nigam Limited (BSNL), a PSU providing telecom services and network management in India. This contract will boost our order book and will help the company for further expansion of operations in PAN India.

Earlier, signing of business partnership with Railtel Corporation of India Limited, a PSU specializing in our field and one of the largest OFC network owners in India. This partnership will boost companies' topline and bottom line in a big way, as we will be able to participate in larger projects henceforth.

Furthermore, Mr Ravindra Doshi, Managing Director of Kore Digital has briefed Board on future guidance for FY24 which is projected sales at Rs 32 crore and PAT of Rs 4.5 crore. Mr Doshi also signed an agreement with Rail-Tel Corporation Ltd and Maharashtra State Road Development Corporation Limited.

On Tuesday, shares of Kore Digital surged by 1.46 per cent to Rs 250 per share with an intraday high of Rs 259 per share and an intraday low of Rs 248.80. The company has a market cap of Rs 88 crore.

The stock was listed on the National Stock Exchange (NSE) as an SME on June 16, 2023, at Rs 172.35 per share. Each lot consisted of 800 shares. The stock has given its investors a return of 50.28 per cent since its listing.

Kore Digital Limited operates as a telecommunication infrastructure provider and offers high-end communication solutions to corporate and telecom network operators. The shares of the company have an ROE of 78 per cent and a ROCE of 85.8 per cent.

Investors should keep an eye on this micro-cap telecom company’s stock. Disclaimer: The article is for informational purposes only and not investment advice.