1:5 Split, 2:1 Bonus Shares: Defence Stock Bags Order From L&T, Shares Up 796% In 2-Yrs

Small cap company engaged in aerospace & defence sector Avantel Ltd today informed via BSE filing about its new order win worth Rs 44.49 crore from Larsen & Toubro. The company on September 26 bagged order worth Rs 3.45 crore from Bharat Electronics Limited (BEL). Despite order win from L&T, Avantel shares witnessed decline of 0.64% to settle at Rs 171.60 per share on BSE. Avantel shares offered eye-catching returns of 1218% in last 3-years. The company's market capitalisation stood at Rs 4174.51 crore. Check details below:

Avantel Ltd Bags Order From L&T: As per the exchange filing of Avantel Ltd dated September 27, 2024, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform 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 time period by which Avantel Ltd must execute the order is March 2025.

Avantel Ltd Obtained Order From Bharat Electronics Limited: The BSE filing of Avantel Ltd dated September 26, 2024 stated, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform that, the Company has received a Purchase Order worth of Rs.3.45 Crores vide mail dated September 25, 2024, from M/s. Bharat Electronics Limited." As per the BSE filing, the order must be executed by July 2025 for supply of Satcom Equipment.

Avantel Ltd To Consider Financial Results: The BSE filing of Avantel added, "we hereby inform you that a meeting of the Board of Directors of the Company will be held on Saturday, October 5, 2024, inter alia, to consider and approve the Un-audited Financial Results of the Company for the Second Quarter and Half Year ended September 30, 2024."

Avantel Ltd Shares Performance: The 52-week high price of Avantel shares on BSE is Rs 223.80 per share (as on 09/07/2024) and 52-week low price is Rs 74.93 per share (as on 28/09/2023), respectively. Avantel shares gained 46% so far this year, jumped 73% in last 6-months, rallied 127% in last 1-year, and offered return of 796% in last 2-years only. In last 3-years, Avantel stock surged 1218% and 4788% in last 5-years.

Avantel Bonus Share History: Avantel offered 2 bonus issues since June 17, 2022. The last Bonus that Avantel declared was in the ratio 2:1 with ex-bonus date fixed as November 24, 2023.

Avantel Stock Split History: Avantel split the face value of its shares once since August 14, 2023. Avantel last split the face value of its shares from Rs 10 to Rs 2 in 2023.The share traded ex-split from August 14, 2023.

About: Avantel has been supporting the strategic sector since three decades and has rolled out many unique products / solutions to Indian Defence Services and allied establishments. The company in its initial years, has manufactured various building blocks of the Radios. From early 2000 onwards; the company has reoriented itself and started offering system based solutions to its customers in four main verticals i.e. Satellite Communications, HF Communications, Electronic Warfare and Radar systems respectively. Presently, the company is in the process of enhancing its portfolio and developing SCA compliant Software Defined Radios, High Power HF systems, Air Defence Radars and Small Satellites," as per its official website.

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