Avantel gains on bagging order worth Rs 10.48 crore from Indian Navy
Avantel is currently trading at Rs. 393.15, up by 2.90 points or 0.74% from its previous closing of Rs. 390.25 on the BSE.
The scrip opened at Rs. 390.00 and has touched a high and low of Rs. 394.70 and Rs. 385.00 respectively. So far 2967 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 474.00 on 09-Nov-2022 and a 52 week low of Rs. 181.58 on 11-Mar-2022.
Last one week high and low of the scrip stood at Rs. 404.90 and Rs. 385.00 respectively. The current market cap of the company is Rs. 632.91 crore.
The promoters holding in the company stood at 40.14%, while Non-Institutions held 59.86% stake in the company.
Avantel has received a work order worth Rs 10.48 crore from Indian Navy, Ministry of Defence on March 10, 2023. Earlier, the company had received an approval for establishment of an additional facility for expansion of Electronics Design, Manufacturing and Engineering Services at E-City, Raviryala Village, Maheshwaram Mandal, Ranga Reddy District, Telangana State, India.
Avantel is actively involved in design and development of products based on High Power Broad band Wireless, Satellite Communication and Broad band access technologies.
