Bonus Shares Likely On Oct 9: Multibaggar Telecom Stock Bags New Order

Board of directors of small cap stock Avantel Ltd will hold meeting on October 9, 2023 to announce bonus shares. Avantel shares offered 580% returns in last 2-years and 362% in last 1-year. Last trading price of Avantel stock is Rs 271.85 apiece with intraday fall of 4.02% on BSE. Avantel bagged an order worth Rs 10.39 crore from Material Organisation, Mumbai on October 5, 2023. Check details below:

Avantel Ltd Bags Rs 10.39 Crore Order: According to the BSE filing of the company dated October 5, 2023, "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 Supply Order worth of Rs.10.39 Crores vide mail dated October 6, 2023, from Material Organisation, Mumbai. Further, the details as required under Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, are enclosed herewith as Annexure - A."

Avantel To Declare Financial Results, Bonus Share Tomorrow: According to the exchange filing of Avantel issued on September 28, 2023, "Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of the Company will be held on Monday, October 9, 2023, inter alia, to consider the following: 1) To consider and approve the Un-audited Financial Results of the Company for the Second Quarter ended September 30, 2023; and 2) may consider the proposal for issue of "Bonus Shares" by capitalisation of reserves, subject to approval of the shareholders of the Company."

Avantel Stock Performance And Return In Last Few Years: Last trading price of Avantel stock is Rs 271.85 per share with intraday fall of 4.02%. Its 52-week high price is Rs 290.40 per share and 52-week low price is Rs 57.62 per share, respectively. Its market capitalisation is Rs 2204.43 crore.

Avantel Financial Outlook: The telecom firm for the June quarter declared its net sales at Rs 68.95 crore, up 155.47% as against Rs 26.99 crore in June 2022. Its EBITDA announced at Rs 14.46 crore in June 2023, up 93.32% as against Rs 7.48 crore in June 2022. Avantel's quarterly net profit declared at Rs 8.01 crore in June 2023, up 82.84% as compared to Rs 4.38 crore declared in June 2022.
Avantel About: Avantel offers innovative, customized network centric solutions through products that comply with MIL standards for defence platforms including ships/submarines/aircraft/helicopters, according to its official website.

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