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Avantel zooms on bagging purchase order worth Rs 44.49 crore
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Avantel is currently trading at Rs. 183.15, up by 11.55 points or 6.73% from its previous closing of Rs. 171.60 on the BSE.
The scrip opened at Rs. 176.10 and has touched a high and low of Rs. 193.00 and Rs. 176.10 respectively. So far 837645 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 223.80 on 09-Jul-2024 and a 52 week low of Rs. 78.64 on 29-Sep-2023.
Last one week high and low of the scrip stood at Rs. 193.00 and Rs. 169.05 respectively. The current market cap of the company is Rs. 4427.51 crore.
The promoters holding in the company stood at 40.06%, while Institutions and Non-Institutions held 0.37% and 59.56% respectively.
Avantel has received a purchase order worth of Rs 44.49 crore from Larsen & Toubro for Supply of Satcom Systems. The said order is expected to be executed by March 2025.
Earlier, the company had received a purchase order worth of Rs 3.45 crore from Bharat Electronics. The order is for supply of satcom equipment. The order is expected to be executed by July 2025.
Avantel is actively involved in design and development of products based on High Power Broad band Wireless, Satellite Communication and Broad band access technologies.
