Small-cap defense electronics manufacturer Avantel's stock price surged over 12 percent on bagging an order from infrastructure major Larsen & Toubro. The order, worth Rs 44.49 crore, is for the supply of satcom systems and is expected to be executed by March 2025.
The company's satcom radios provide voice and data communications between ships, aircrafts, and the base.
At 11.45 am, Avantel shares were quoting Rs 183.8 per share on the NSE, up 7.13 percent compared to the previous session's closing price.
Over 34 lakh shares of the company exchanged hands on the BSE and NSE combined so far today, as compared to the one-month average traded volume of 8.2 lakhs.
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On September 26, Avantel bagged an order win from Bharat Electronics for the supply of satcom for Rs 3.45 crore, with an execution timeline of July 2025.
Avantel designs, develops and maintains 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.
Over the past year, Avantel shares have skyrocketed 105 percent, outperforming the benchmark Nifty 50 index and doubling investors' wealth.
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