Nettlinx zooms on receiving contracts worth Rs 11.20 crore

Nettlinx zooms on receiving contracts worth Rs 11.20 crore

Indian Market
by 5paisa Research Team Last Updated: 2023-01-12T18:35:31+05:30

Shares of Nettlinx have surged more than 50% in the last 6 months.

On January 12, 2023, the company informed in the exchange filing that, Nettlinx has received various letters of award of contracts from various institutions for providing dedicated internet leased line bandwidth connectivity, P2P links along with services and accessories of about 43 GBPS. These orders for the supply of 43GBPS are on Gross Cost Contract (GCC) basis for 1 year (Contract Period). The estimated total value of the contracts received is approximately Rs 11.20 crore inclusive of taxes.

Nettlinx provides a portfolio of high-quality Internet solutions for data voice and security, to cater to corporate customer needs. Leveraging its technological, and regional presence, Nettlinx can bring value and strong support to its customers. It has strategic and long-lasting relationships with major telecom operators in India as well. 

Today, the stock opened at Rs 101.20 with a high and low of Rs 108.90 and Rs 101.00. The stock closed trading today at Rs 105.25, up by 1.84%.

In the last six months, the shares of the company have given more than 50% returns and on a YTD basis, the stock has given -2% returns. The BSE group 'X' stock of face value Rs 10 has a 52-week high of Rs 109.95 and a 52-week low of Rs. 53.50.

The promoters holding in the company stood at 58.65%, while Institutions and Non-Institutions held 0.01% and 41.34% respectively. The company has a ROCE of 9.49% and an ROE of 7.71%, with a market capitalisation of Rs 119 crore.

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