Avantel touches the roof on bagging order worth Rs 17.04 crore

Avantel is currently trading at its upper circuit limit of Rs. 52.55, up by 4.75 points or 9.94% from its previous closing of Rs. 47.80 on the BSE. The scrip opened at Rs. 50.00 and has touched a high and low of Rs. 52.55 and Rs. 49.10 respectively. So far 1643 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 71.00 on 07-May-2013 and a 52 week low of Rs. 39.00 on 06-Jan-2014. Last one week high and low of the scrip stood at Rs. 52.55 and Rs. 46.10 respectively. The current market cap of the company is Rs. 21.98 crore. The promoters holding in the company stood at 39.83% while Non-Institutions held 60.17% stake in the company. Avantel has bagged an order worth Rs 17.04 crore from Antrix Corporation, a Government of India Company under Department of Space, for supply of UHF SATCOM Systems-Airborne. Avantel is actively involved in design and development of products based on High Power Broad band Wireless, Satellite Communication and Broad band access technologies. The design, development and integration of wireless and access products are carried out using standard and proprietary software tools.