We bring to you a mid-cap telecom stock that has turned Rs 10,000 into Rs 1 lakh in the last 4 years to buy and gain as much as 12% in the upcoming 6 to 9 months on your invested money. According to Axis Direct, company's management maintains that it is on course to achieve $100 million in net profit by FY20.
The domestic stock markets have been broadly surging on the hopes of better-than-expected Q4 corporate earnings for over a month now with BSE Sensex reclaiming a level of around 35,200 from a mark of 32,600 as on 23 March 2018. Up until now, amid the financial results for the quarter and the year ended 31 March 2018, IT companies such as TCS, Infosys have beaten the street estimates, banks have reported mixed set of numbers while telecom sector companies such as Bharti Airtel Ltd and Idea Cellular Ltd net profits and margins have declined further. The net profits of the telecom companies have been shrinking perpetually from Q4 FY17 following the tariff war triggered by the disruptive telecom company Reliance Jio Infocomm Ltd.
We bring to you a mid-cap telecom stock that has turned Rs 10,000 into Rs 1 lakh in the last 4 years to buy and gain as much as 12% in the upcoming 6 to 9 months on your invested money. According to Axis Securities, company’s management maintains that it is on course to achieve $100 million in net profit by FY20.
Shares of Sterlite Technologies Ltd have turned a sum of Rs 10,000 to over Rs 1 lakh in the span of last 4 years. Shares of Sterlite Technologies have risen more than 1000% over the course of last 4 years steering an investment of Rs 10,000 to Rs 1 lakh. The stock of Sterlite Technologies had risen 1022% to Rs 341.7 from a share price level of Rs 30.45 as on 30 April 2014. About 328 equity shares of Sterlite Technologies bought at a share price level of around 30 investing a sum of Rs 10,000 has now turned into Rs 1,12,217 (more than Rs 1 lakh).
The research and brokerage firm Axis Securities has given a buy rating to the stock of Sterlite Technologies with a potential upside of 12% to a target price of Rs 383 from a current market price of Rs 342. “Management indicated that the industry is witnessing a strong wave of fiber deployment over the next 10 years due to exponential data growth and 5G deployments across the globe,” Axis Securities said in a research report.
Shares of Sterlite Technologies are categorised under the ‘A’ group shares on BSE and are a component of S&P BSE 500 and Nifty Infrastructure indices. Sterlite Technologies commands a market capitalisation of Rs 13,736 crore on the basis of the share price of Rs 341.8 on BSE.
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