Shares of Catvision Ltd hit a 20% upper circuit on 22 December after the company received orders worth Rs 1.16 crore from Larsen and Toubro Group.

In its regulatory filing, the company said that it has received an order worth Rs 1.16 crore for the supply and installation of Catvision- Master Antenna Television System from Larsen and Toubro Group for its central Vista project & Patna Medical College Hospital.

Moreover, the order was placed by two separate Larsen and Toubro Group companies.

A Rs 73.50 lakh order was placed by Larsen and Toubro Ltd that has to be executed in three months, whereas the Rs 28.16 lakh order was placed by Larsen and Toubro Technology Services Ltd has to be executed in a period of nine months.

In its quarterly report for July-September, the company reported a net loss of Rs 0.87 crore for the quarter from Rs 0.13 crore net profit reported in the same quarter last year.

The revenue during the quarter decreased by 0.5% year-on-year to Rs 21.55 crore from Rs 21.67 crore reported in the same quarter during the previous fiscal year.

At 3:30 pm, the shares of Catvision closed 20% higher at Rs 17.70 on NSE.