1,600 per cent returns: This multibagger defence and aerospace stock bags a new order worth Rs 5.3 crore from the Ministry of Defence!

Shares of the company have gained more than 120 per cent in the last six months.

Avantel Limited recently secured a Rs 5.3 crore contract with the Navy for crucial Satcom equipment, boosting their naval communication expertise. This follows their Rs 67.92 crore deal with NewSpace India for satellite terminals, further solidifying their position in the space sector.

These major wins come at a time of strong financial performance for Avantel, demonstrating their commitment to growth and supporting India's strategic needs. With a diverse portfolio and impressive order book, Avantel is well-positioned for continued success in the high-tech communications landscape.

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Avantel Limited reported a strong second quarter for FY24, with a net sales increase of 49.99 per cent to Rs 54.33 crore, compared to Rs 36.23 crore in the same quarter last year. The operating profit also experienced a significant increase of 150.99 per cent. The net profit for the quarter stood at Rs 16.07 crore, which was Rs 6.14 crore in the previous year's same quarter.   

Avantel Limited is 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 stock has delivered over 1,600 per cent returns in the last 3 years

The stock has shown impressive growth, and investors should keep a close eye on this stock.          

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