Upper circuit alert: This micro-cap telecom infrastructure company partners with a US based company for Rs 100 crore project!
Shares of the company have gained more than 60 per cent in the last six months.
Shares of Kore Digital Limited were locked in the upper circuit on Monday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few trading sessions. Hence, the stock is locked in the upper circuit. Over the previous six months, the stock has gained about 60 per cent.
The company recently partnered with Cogent Communications, Inc., a US-based multinational internet service provider, to accelerate its global expansion. This partnership is expected to add Rs. 100 crores per annum to the company's top line and Rs. 10 crores to its bottom line, enabling the company to pursue various business expansion plans in the coming years.
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The company posted strong Half-yearly results. The company's revenue for H2FY23 stood at Rs 15.11 crore which grew by 38.4 per cent YoY. The operating profit of the company stood at Rs 3.35 crore, while the PAT of the company stood at Rs 2.29 crore, representing a growth of 11.74 per cent YoY.
Kore Digital Limited provides high-end communication solutions to corporate and telecom network operators. The company is a growing passive telecommunication infrastructure provider in Maharashtra, engaged primarily in the business of installing and commissioning Poles, Towers and Optical Fibre Cable (OFC) Systems in Maharashtra.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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