Share price of this defence stock moved up by nearly 3.5% to Rs. 117 in the trading session of March 4th, compared to its previous close of Rs. 113.05, after the company received two purchase orders from separate domestic entities.
With a market capitalisation of Rs. 2,778.14 crores, the shares of Avantel Limited moved up by 1.02 percent to close at Rs. 114.2.
In the last one year, the company has delivered multibagger returns of about 335.21 percent and more than 39.5 percent in the last six months. So far in 2024, it has delivered negative returns of nearly 2.6 percent.
According to recent regulatory filings with the BSE, Avantel Limited received two separate purchase orders totalling Rs. 11.44 crore on Saturday.
The first order received by the company is from Larsen & Toubro Limited for Rs. 7.2 crore, with the project expected to be completed by March 31, 2025.
The second order is received from Material Organisation, Visakhapatnam, with a project cost of Rs. 4.24 crores, and is expected to be executed by March 1, 2025.
In terms of financials, the company’s revenue from operations grew by 9.25 percent from Rs. 54 crores in Q2 FY23-24 to Rs. 59 crore in Q3 FY23-24. However, the net profit remains unchanged at Rs. 17 crore from Q2 FY23-24 to Q3 FY23-24.
As of December 2023, DIIs hold 0.01 percent of the shares, whereas the Public holds 59.89 percent of the shares in the company. The Promoters’ holding has remained unchanged at 40.10 percent for more than two years.
Incorporated in 1990 as a private limited company under the name of Dialog Communications Private Limited, Avantel provides innovative, customised network-centric solutions through products for defence platforms including Ships, Submarines, Aircraft or Helicopters.
The company is engaged in designing, developing and maintaining wireless and satellite communication products, defence electronics, radar systems and development of network management software applications from the aerospace and defence sectors.
Written by Shivani Singh
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