This company is quite a old horse working in cables field from a long period.They were one of the first to bring jelly filled telecom cables which provides sturdiness and robustness.
Off lately the stock has started moving mainly due to good sales pick up and corresponding net profit and cash flow.
They also repaid all FCCB bond holders and all issues CCPS at rate of approximately @21 to clutch of investors few month back.
The way in which players in cables field are showing good progress on sales front ( eg FINOLEX,POLYCAB,KEI) ,the overall mood ,sentiment of this market has been elevated on basis of actal rise in sales for all of them.
Each one of them is playin on their strengths like :
POLYCAB – retail and cables used in building construction
KEI–Ultra high tension and retail too
UNIVERSAL–Ultra high tension cables
PARAMOUNT-major in telecom cables
The huge spend being made by government on expanding broadband and 4G,5G coverage requires huge investment in cable layout and last mile connectivity.
Now even payment from government can be considered to be falling in line in terms of debtors days.
I am of the opinion that the turn around of this company has started taking place but need others inputs as well @Worldlywiseinvestors @Vineetjain111 @Donald @ayushmit
CCPS_allotment.pdf (1017.2 KB)