Defence stock jumps 3% after THIS order update from ISRO. Do you own? | Stock Market News
Source: Live Mint
Stock Market today: Defence stock Avantel gained more than 3% during the intraday trades on Tuesday after it received order update from ISRO.
Avantel ltd share price opened at ₹128.10 on the BSE on Tuesday, higher than previous close of ₹127.10 . Avantel Ltd share price thereafter gained further to intraday highs of ₹132.35, marking fgains of more than 4% over the previous close
Avantel Ltd share price that had risen from 1 year or 52 week lows of ₹86.05 in March 2024 to highs of ₹233.80 in July 2024 had corrected significantly there after. Hence the order flow has lifted the sentiments of Avantel investors significantly
Avantel Ltd _ ISRO order update
Avantel Ltd intimated the exchanges on 4 February 2024 about Receipt of a Purchase Order
As per Avantel Ltd intimation on the exchange “ , the Company has received a Purchase Order worth of Rs.5.81 Crores (excluding taxes) vide mail dated February 4, 2025, from Satish Dhawan Space Centre – SHAR, ISRO”
The order received by Avantel Ltd is for AMC of Wind Profiler Radar as indicated by the company in its release under -brief details about significant terms and conditions of order(s)/contract(s) awarded
The time period for the order (annual Maintenance Constrict is till January 2030. The Broad consideration and size of the order or contract is Rs.5.81 Crores (excluding taxes)
Avantel Ltd Q3 Results
Avantel Ltd had recently also announced in October- December quarter performance (Q3 Results). The
Avantel Ltd had reported consolidated net profit of ₹20.08 crore during the December’24 quarter that grew 23 % over RS 16.32 crore reported by Avantel Ltd during the December’23 quarter
Avantel Ltd reported consolidated revenues from operations at ₹70.68 had grown 18.4% during the cember 2024 quarter over ₹59.7 Crore during the December 2023 quarter.
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