The shares of this defence-based company engaged in the business of designing, developing, and maintaining wireless and satellite communication products, defence electronics, radar systems, and the development of network management software applications for its customers, mainly from the aerospace and defence sectors, are in focus after securing a massive work order.

With a market capitalisation of Rs 3,580 crore, the shares of Avantel Ltd made a day high of Rs 138.90 per share, up by nearly 15 percent from its previous day’s closing price of Rs 121 per share. Over the past five years, the stock has delivered a multibagger return of 2,211 percent significantly outperforming NIFTY 50’s return of only 62 percent.

About the Order

Avantel Limited, through a stock exchange filing, announced that it has secured a major work order worth Rs 459.90 crore (excluding taxes) from Zetwerk Manufacturing Businesses Limited for the supply of satellite communication equipment.

Besides the supply, the contract also entails a one-year onsite warranty followed by a five-year Annual Maintenance Contract (AMC) period, indicating the company's strength not only in manufacturing but also in providing long-term service support.

The order is a domestic one and is to be executed within a period of three years. This development will extend Avantel's order book and also mark its presence in the satellite communication segment, without any related parties' participation in the transaction.

Avantel Limited is a technology company located in India that plans, develops and produces wireless communication and satellite-based systems. It offers communication satellite equipment, software-defined radios, radar systems and network solutions chiefly to defence, aerospace and telecom sectors. Besides that, the company provides mobile satellite services to vessels, aircraft, and submarines, as well as solutions for railways and ocean monitoring.

Apart from its main products, Avantel has excellent manufacturing, testing and innovation capabilities. It is also active in the area of healthcare products, which makes it an engineering and technology solutions provider with a diverse range of offerings.