Multibagger Telecom Company Bags Rs 4.24 Crores Order From Miniratna Company, Up 12.99% In 1 Week

Avantel Limited has received a Purchase Order worth Rs.4.24 Crores from M/s. Mazagon Dock Shipbuilders Limited for Supply, Installation and Commissioning of UHF SATCOM Systems, the company informed in an exchange filing on July 13, 2023. The share price of Avantel jumped 12.99% in the past one week. The company has a market valuation of Rs 1,416.16 Crore.

Disclosure of information pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI circular No. CIR/CFO/CMD/4/2015 dated September 9, 2015

Sr.No.	Particulars	Description
1	Name of the entity awarding the order(s) / contract(s)	Mazagon Dock Shipbuilders Limited
2	Significant terms and conditions of order(s)/contract(s) awarded in brief	Supply, Installation and Commissioning of UHF SATCOM Systems
3	Whether order(s)/contract(s) have been awarded by domestic / international entity	Domestic
4	Nature of order(s)/contract(s)	Manufacturing & Services
5	Whether domestic or international	Domestic
6	Time period by which the order(s)/contract(s) is to be executed	July 2024
7	Broad consideration or size of the order(s)/contract(s)	Rs.4.24 Crores
8	Whether the promoter/ promoter group / group companies have any interest in the entity that awarded the order(s)/contract(s)? If yes, nature of interest and details thereof	Not Applicable
9	Whether the order(s)/contract(s) would fall within related party transactions? If yes, whether the same is done at "arm's length"	Not Applicable

Source - BSE

Stock Movement

On Monday, the stock of Avantel closed at Rs 873.20 apiece, up Rs 4.80, or 0.80% on the BSE. The stock hit a new 52-week high on Jul 12, 2023, at Rs 90.35 apiece, while it hit 52-week low on Aug 16, 2022, at Rs 245 apiece.

It jumped 28.09% in the past 1 month. While in the past 3 and 6 months, it jumped 75.57% and 106.92%, respectively. It gave 235.39% multibagger return in 1 year, 421.31% in 2 years, 879.36% in 3 years, and 1015.77% in 5 years, respectively.

About - Avantel Limited

Avantel Limited is a telecommunication sector small-cap company. The company is engaged in the business of designing, developing and maintaining wireless and satellite communication products, defence electronics, radar systems and development of network management software applications for its customers majorly from the aerospace and defence sectors.