Avantel's ₹460 crore Zetwerk deal sends stock soaring
Business
Avantel just landed a massive ₹460 crore deal with Zetwerk to make and maintain satellite communication gear over the next three years.
The news sent Avantel's stock up 12% on Wednesday, March 25, showing investors are pretty excited about this boost.
The contract includes 1 year of on-site warranty and 5
The contract includes one year of on-site warranty and five years of annual maintenance, which helps strengthen Avantel's position in defense tech.
Even though the stock is down over 14% year-to-date, Avantel has pulled off more than 24% returns over the past year and recently scored another ₹122.58 crore order from NewSpace India Ltd, so they're keeping up some solid momentum.