Avantel jumps by 10 per cent on back of patent win

Avantel Limited has been granted a patent by Government of India for an invention entitled, Intelligent Integrated Satellite Terminal for Train tracking, Control Office Automation and Passenger Information. The said patent is granted for a period of 20 years commencing from October 13, 2009.

Earlier in December 2016, Government of India had granted the company a patent for an invention entitled, Integrated Ultra High Frequency System (Satcom & Line of Sight) for Voice and Data Communication to Work with Indian Satellite. This patent too was granted for a period of 20 years commencing from September 30, 2009.

Avantel is engaged in the manufacturing of telecom products and provides related customer support services. The company’s 80 per cent revenue is generated from products and services provided to the Indian Navy. Currently, it has an order book of Rs. 50 crores which are expected to be executed within the next 9-12 months. It is the only company which supplies train tracking satellite equipment to Indian Railways for which it has received the patent. Also, it has developed satellite mobile radio which is used by many strategic users.

On Thursday, the stock had closed at Rs. 567.70 per share. On Friday, it jumped by 10 per cent and hit an intra-day high of Rs. 624.45 in the morning trading session.