Avantel opened 9% higher at Rs.811 and went on to hit the 20% UC at Rs.892.40, where it now remains frozen. Volumes have jumped up over 4.5-times.
The stock hit the roof after it announced that it has received the Supply order for supply of Loco devices for implementation of RTIS phase – 2 (Real Time Train Information system). The order is worth Rs.126 crore.
This Hyderabad based company is primarily engaged in the manufacture of telecom products and provides related customer support services. Market cap is around Rs.360 crore and promoters hold 40%stake.