Shares of Avantel Ltd rallied 5% on Wednesday, 17 September, after the company announced securing an order worth Rs 10 crore from Garden Reach Shipbuilders Ltd. 

Avantel has received a purchase order for Rs 9.92 crore (including taxes) from Garden Reach Shipbuilders Limited for Satcom products, according to an exchange filing. The order, which involves a 3% performance bank guarantee, is domestic in character and defined as manufacturing. Execution is expected to be completed from 15 March to 15 June 2026, according to the business.

Avantel has received an updated purchase order worth Rs 9.88 crore from the Department of Atomic Energy. In June, Avantel received two domestic orders for Rs 24.73 crore. The Defence Electronics Applications Laboratory won the first contract at Rs 13.67 crore, while Mazagon Dock Shipbuilders awarded the second for Rs 11.06 crore.

Avantel is a publicly traded technology firm that designs and manufactures communication solutions for the defense and telecom industries. It offers customized, network-centric wireless and satellite communication solutions, such as MIL-standard devices, digital microwave systems, signal processors, and embedded firmware/software.

The company covers fields such as defence platforms, aircraft, railway communication, and satellite-based services by using its in-house research and development (R&D) infrastructure, which is recognized by the Government of India.

At 12:34 pm, the shares of Avantel were trading 0.28% higher at Rs 177.53 on NSE.

Tired of missing hot stocks? Unicorn Signals provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!