Multibagger Stock: This Telecom Equipment company bags new orders from Indian Navy, Ministry of Defence!

Shares of the company have gained more than 28 per cent in the last six months.

On March 10, 2023, Avantel Limited, in the exchange filing informed that the Company has received a work order worth Rs 10.48 crore on March 10, 2023 from Indian Navy, Ministry of Defence. 

Avantel Limited has delivered multibagger returns to its shareholders. During this period, the company’s share price jumped from Rs 185.93 on March 14, 2022, to Rs 390.35 on March 13, 2023, an increase of more than 100 per cent in one year holding period.   

Avantel is actively involved 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. Its R&D center comprises of 40-member team of engineers which is recognized by the Department of Scientific and Industrial Research, Government of India, as a research and development center for technology development in telecommunications. 

Today, the stock opened at Rs 390.00, with a high and low of Rs 397.95 and Rs 385.00. The stock is closed trading at Rs 390.35, up by 0.03 per cent.   

The stock has a 52-week high of Rs 474.00 and a 52-week low of Rs 181.58. The company has a ROCE of 29.8 per cent and an ROE of 25.6 per cent with a market capitalisation of Rs 633 crore.