Shares of Kore Digital Limited have experienced a significant surge of more than 60 percent over the past six months, indicating strong investor confidence in the company. The stock recently reached its upper circuit limit on Monday, with a gain of 5.00 percent, which can be attributed to heavy buying activity from investors.
One key factor contributing to the stock’s rise is the company’s recent partnership with Cogent Communications, Inc., a prominent multinational internet service provider based in the United States. This strategic collaboration is expected to bolster Kore Digital Limited’s global expansion efforts, resulting in an estimated addition of Rs. 100 crores per annum to the company’s top line and Rs. 10 crores to its bottom line. These added resources will enable the company to pursue various business expansion plans in the coming years.
Furthermore, Kore Digital Limited has reported strong half-yearly results, indicating positive growth. In H2FY23, the company generated a revenue of Rs 15.11 crore, representing a robust YoY growth of 38.4 percent. The operating profit stood at Rs 3.35 crore, while the PAT (profit after tax) reached Rs 2.29 crore, reflecting a YoY growth of 11.74 percent.
Kore Digital Limited specializes in providing high-end communication solutions to corporate and telecom network operators. The company primarily engages in the installation and commissioning of Poles, Towers, and Optical Fibre Cable (OFC) Systems in Maharashtra. As a growing passive telecommunication infrastructure provider, Kore Digital Limited has shown tremendous growth potential, making it an attractive investment opportunity.
However, it is important to note that this article is for informational purposes only and should not be considered as investment advice. Investors are advised to conduct thorough research and analysis before making any investment decisions.
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