Bengaluru, Sept. 17 -- The shares of the Defence company specializing in the business of designing, developing, and maintaining wireless and satellite communication products jumped upto 5 percent upon receiving a purchase order from Garden Reach Shipbuilders Limited.

With a market capitalization of Rs. 4,741.63 crores on Wednesday, the shares of Avantel Limited jumped upto 5.4 percent, making a high of Rs. 186.50 per share compared to its previous closing price of Rs. 176.90 per share.

What Happened

Avantel Limited, engaged in the business of designing, developing, and maintaining wireless and satellite communication products, has received a purchase order worth Rs. 9.92 crores (including taxes) from Garden Reach Shipbuilders Limited....