Mumbai: The communication services company Avantel has received a supply order worth Rs 10.39 crore from Mumbai based Material Organisation, a department of the Indian Navy.
According to the company, it has been contracted to supply SATCOM Equipment within 12 months.
Last month, the company informed the bourses that its board will meet on October 9 to consider the proposal for the issue of bonus shares along with its quarterly earnings.
Avantel designs, develops and maintains wireless and satellite communication products, defence electronics, radar systems and development of network management software applications for its customers majorly from the aerospace and defence sectors.
Earlier in the day, the smallcap stock closed at Rs 271.85, down 4 percent. The stock is one of the best performers of the current calendar year and has delivered 254.53 percent returns year to date. In the last 10 years, it has zoomed 10,043.66 percent