1,500 per cent returns: This multibagger telecom equipment company bags new orders from Bharat Electronics Limited worth Rs 13.30 crore!

Shares of the company have gained more than 190 per cent in the last six months.

On August 23, 2023, Avantel Limited, in the exchange filing informed that the company had received a work order worth Rs 13.30 crore from Bharat Electronics Limited. The order is for the supply of PA Modules.

Avantel Limited has delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 50.98 on August 23, 2022, to Rs 235.10 on August 23, 2023, an increase of more than 360 per cent in one year holding period.  

Avantel Limited has reported results for the first quarter ended June 30, 2023 (Q1FY24). The company posted strong Quarterly Results. The revenue of the company stood at Rs 68.95 crore which grew by 155.47 per cent YoY. The operating profit of the company stood at Rs 14.46 crore growing by 93.08 per cent YoY, while the PAT of the company stood at Rs 8.01 crore, with an increase of 82.86 per cent.

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Avantel is actively involved in the design and development of products based on high-power broadband wireless, satellite communication and broadband access technologies. The design, development and integration of wireless and access products are carried out using standard and proprietary software tools.

The company’s R&D centre comprises a 40-member team of engineers which is recognized by the Department of Scientific and Industrial Research, Government of India, as a research and development centre for technology development in telecommunications.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.