Avantel shares jump 12% after 44.5 crore order from L&T

Avantel share price: The shares of Avantel, the aerospace and defence equipment manufacturer, surged over 12.4 per cent on Monday after the company bagged a Rs 44.49 crore order from Larsen and Toubro for the Satcom Systems. 

In post-market hours, the company released announced receiving the order. “We are pleased to inform you that, the Company has received a Purchase Order worth of Rs.44.49 Crores vide mail dated September 27, 2024, from M/s. Larsen & Toubro Limited,” the exchange filing stated.  

According to the filing, the supply order will be executed by March 2025. 

The share of the company has risen nearly 85 per cent in the last six months whereas the yearly gains of the stocks are close to 118.5 per cent. The price-to-earning valuation of the company currently stands at 76.12 times while the earnings per share is at Rs 2.25. 

As of 10:43, the shares of the company were trading 7.34 per cent or 12.40 higher at Rs 184.20. 

Gurugram-based Avantel specialises in the production of wireless front-end satellite communication systems, signal processing, network management, and software development. 

The company also offers customer support services and operates an in-house research and development facility in Vishakhapatnam, Andhra Pradesh. Avantel's journey began with the design, development, and manufacturing of key components for the wireless industry.