Avantel Ltd Secures Rs 9.94 Crore Contract from DRDO for Satellite Terminal Development
Avantel Limited has secured a contract worth Rs 9.94 Crores from the Defence Research and Development Organisation (DRDO), Ministry of Defence, Government of India. The agreement involves the development and testing of Satellite Terminals intended for GSAT.The contract was awarded to Avantel Ltd, confirming the company's involvement in critical defence technology projects.
Key details regarding the order include a 24-month warranty period. The contract falls under the Manufacturing and Service nature and is expected to be executed by December 2028.
Avantel Ltd holds the manufacturing and service agreement with the DRDO, which is described as a domestic entity awarding the contract. This signifies a significant business achievement for the company in the defence technology sector.
Financial details and operational terms of the awarded contract are summarized below:
| Particulars | Details |
|---|---|
| Entity Awarding Order | DRDO, Ministry of Defence, Government of India |
| Contract Value (Incl. Taxes) | Rs 9.94 Crores |
| Nature of Contract | Manufacturing & Service |
| Warranty Period | 24 Months |
| Execution Deadline | December 2028 |
AVANTEL Stock Price Movement
Shares of Avantel Limited today slipped by 5.14% to settle at ₹160.97, closing lower after trading in the post-market session. The equity saw significant movement throughout the day, trading between a low of ₹159.6 and a high of ₹168.6 on a traded volume of 1.79 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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