Avantel Ltd Secures Rs. 54.38 Crore Contract with Ministry of Defence
June 9, 2023 – Avantel Limited, a leading technology company, has recently announced the successful acquisition of a significant contract worth Rs. 54.38 crores. The contract, signed with the Ministry of Defence, specifically the Coast Guard Headquarters in New Delhi, focuses on the provision of SATCOM Terminals and Hub Stations. The agreed-upon timeline for the execution of the contract is set to be completed by September 2024.
The news of this contract has had a notable impact on Avantel Limited’s stock performance. As of the latest trading session, the company’s shares, traded on the Bombay Stock Exchange (BSE), closed at Rs. 598.35. This figure reflects a slight decrease from the previous closing price of Rs. 600.65. Throughout the day, a total of 57,524 shares were traded across more than 2,050 transactions.
About Avantel Limited:
Avantel Limited operates in the field of designing, developing, and maintaining wireless and satellite communication products, defense electronics, radar systems, and network management software applications. Its primary customer base comprises the aerospace and defense sectors.
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