What’s new

• Board approved renaming to Tikona Communication Ltd, subject to approvals.
• June quarter revenue of ₹19.6 crore and net profit of ₹2.1 crore.
• EGM set for August 13 to seek shareholder consent for the name change.

Why it matters

The company went from zero operations to positive revenue and profit in one quarter, validating the telecom pivot. But the stock is still under GSM Stage 3, which restricts trading, and the name change is a procedural step that doesn't alter the underlying business risk for a nano-cap.

What we’re watching

• Whether the stock exits GSM Stage 3 and normal trading resumes.
• Shareholder vote on the name change at the August 13 EGM.
• Sustainability of revenue growth in the next quarter.

The full read

Grand Foundry has gone from a shell to a telecom equipment company in a single quarter, posting ₹19.6 crore in revenue and ₹2.1 crore in net profit against nil a year ago. The board also approved renaming the company to Tikona Communication Ltd, with an EGM on August 13 to seek shareholder consent. The turnaround is real, but the stock remains under GSM Stage 3 trading curbs — the strictest level of exchange surveillance. For a nano-cap with a market cap of just ₹41 crore, one quarter of positive numbers is a start, not a trend. The name change is mostly procedural; the real test is whether the business can sustain this momentum.

Primary source: BSE · NSE