Avantel shares surged to an all-time high on Thursday after it informed in an exchange filing with the Bombay Stock Exchange (BSE) that it had received a Rs 13.30 crore order for PA modules from Bharat Electronics.

Shares of the telecom equipment company surged 10.5% during the intraday session to reach an all-time high of Rs 259.95. At 02:25 pm, the scrip was trading at Rs 253.45, nearly 8% higher from its previous closing price on the BSE. The stock has jumped nearly 22% in the last five trading sessions. 

In an exchange filing, the company said that it had received a Purchase Order dated August 23 worth Rs13.30 crore from M/s Bharat Electronics Ltd for manufacturing and supplying PA (power amplifier) modules. The order is expected to be executed by April 23, 2024. 

Avantel provides strategic solutions to the Indian Defence Services and related establishments. It also manufactured various radio and related components such as Satellite Communications, HF Communications, Electronic Warfare, and Radar systems. 

Avantel is actively involved in designing and developing products based on High Power Broadband Wireless, Satellite Communication and Broadband access technologies using standard and proprietary software tools.

The promoters hold a 40.10% stake in the company, while Institutional and Non-Institutional investors hold 0.03% and 59.87%, respectively.