Avantel hits record high after order win

Avantel jumped 7.44% to Rs 728 after the company said it received an order worth $19,80,000 from Lockheed Martin Corporation for supplying Satcom equipment.

Shares of Avantel have jumped 38% in nine sessions from its previous closing low of Rs 528.8 on 2 July 2021. The stock hit a record high of Rs 748.95 in intraday today. The stock is up 127.5% from its 52-week low of Rs 320 posted on 31 July 2020.

Avantel specializes in integrating technologies related to wireless front-end, Satellite Communication, Embedded systems, Signal Processing, Network management and Software development.

The company posted a 38.1% rise in net profit to Rs 5.69 crore on a 34% increase in net sales to Rs 29.06 crore in Q4 FY21 over Q4 FY20.

 

Powered by Capital Market - Live News