Shares of Avantel Ltd. surged over 9% in Thursday's trade, Sept. 24, after the company received a purchase order worth Rs 177.35 crore, including taxes, from Zetwerk Manufacturing Businesses Ltd.
The stock was trading at Rs 159.47 apiece on NSE around 9:41 a.m., gaining around 9.37% against its previous close at Rs 146.17. Meanwhile, Nifty 50 slipped almost 0.9% in trade today.
The new order adds to the existing order book of the company as investors assess the increasing revenue visibility with the growing order book.
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Avantel Receives Rs 177 Crore Order
Avantel said it received a firm purchase order dated Sept. 22 from Zetwerk Manufacturing Businesses, according to a rate contract awarded in March 2026.
The order is for the supply of satellite communication equipment and has a total value of Rs 177.35 crore, including applicable taxes.
The order is domestic in nature and relates to manufacturing. It also includes a one-year comprehensive onsite warranty.
According to the company's exchange filing, the purchase order is scheduled to be executed by March 2027.
Avantel Ltd. Stock Price Movement
Avantel shares have been under pressure over a year now, losing more than 16.7% during the period.
The stock, however, gained 6.15% during the past week; however, it mostly reflects today's rally.
In the past 52 weeks, the stock has stayed within Rs 117.05 and Rs 215 apiece on NSE while currently trading at a price-to-earnings multiple of 226.14 times, with a market cap of Rs 4,198.73 crore.
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