Dividend Stock To Approve Sub-Division Of Shares, Bags Rs 54 Cr Order From Defence Ministry

Board of directors of small cap company operating in Telecommunications sector, Avantel Ltd have scheduled a meeting for June 23, 2023 to consider and approve proposal for sub-division/stock split of equity shares. Avantel Ltd has signed a contract worth of Rs.54.38 Crores dated June 9, 2023 with Ministry of Defence. Last trading price of Avantel Ltd share on BSE is Rs 659.00 apiece with intraday fall of 1.30%. Avantel on May 9 announced a dividend of Rs 1.00 per share and fixed June 16, 2023 as record date. Check details below:

Avantel Ltd Bags Order From Defence Ministry: According the regulatory filing of the company, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform that, the Company has signed a contract worth of Rs.54.38 Crores dated June 9, 2023 with Ministry of Defence, Coast Guard Headquarters, New Delhi."

Avantel Ltd To Approve Stock Split: As per the BSE filing of Avantel, "we hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, June 23, 2023, inter alia to consider and approve the proposal for sub-division/split of the Equity shares of the Company having face value of Rs.10/- (Rupees Ten) each fully paid up in such manner as may be determined by the Board of Directors and subject to approval of the shareholders and such authorities as may be required."

Avantel Ltd Stock Performance & Return: Last trading price of Avantel Ltd is Rs 659.00 per share. Its 52-week high price is Rs 704.00 per share and 52-week low price is Rs 236.90 per share, respectively. It has a market capitalisation of Rs 1,068.76 crore. Avantel share gave 73% return in last 3-months, 70% return YTD, 110% return in last 1-year, 376% return in last 2-years, and 1065% gain in last 3-years.

Avantel Ltd About: It has been supporting the strategic sector since three decades and has rolled out many unique products / solutions to Indian Defence Services and allied establishments. The company in its initial years, has manufactured various building blocks of the Radios. From early 2000 onwards; the company has reoriented itself and started offering system based solutions to its customers in four main verticals i.e. Satellite Communications, HF Communications, Electronic Warfare and Radar systems respectively, according to its official website.