On June 12, Avantel shares plunged over 6% in early trade after the company signed a Rs 54.38 crore agreement with the Coast Guard Headquarters in New Delhi. The deadline for the job has been decided for September 2024.

A meeting of the company’s board of directors has been summoned on June 23 to contemplate and approve the proposal for sub-division or split of the company’s equity shares, having a face value of Rs 10 each fully paid up.

The company in the quarter that ended March 2023, stated a 59% jump in combined net profit at Rs 9.69 crore as against Rs 6.08 crore.

The company’s proceeds were up 12.4% at Rs 52.53 crore versus Rs 46.71 crore YoY.

At 9:23 am, Avantel was trading at Rs 639.00, up Rs 40.65, or 6.79%, touching a 52-week high of Rs 639.