Shares of Avantel Limited surged nearly 4% on Wednesday, September 17, after the company announced it has received a purchase order worth Rs 9.92 crore (including taxes) from Garden Reach Shipbuilders Limited. The stock was trading at Rs 183.88, up 3.87% or Rs 6.85, at 9:17 AM on the NSE.
According to Avantel, the order was confirmed on September 15 via mail and covers the supply of Satcom products under manufacturing contracts. The execution timeline is set between March 15, 2026, and June 15, 2026. The agreement also requires a performance bank guarantee of 3%.
The company clarified that the order is domestic in nature and does not involve any related-party transactions. Avantel said the development aligns with its strategy of strengthening its portfolio in defence and communication technology.
At the time of writing, Avantel shares were trading at Rs 183.88, marking a gain of 3.87% in early trade.
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