Avantel rises on winning contract from The Boeing Company

Avantel is trading in the green on the BSE after the company bagged a $1.3 million contract from US-based The Boeing Company.

The scrip is currently trading at Rs 52.10 per share, up 4.05 points or 8.43% on the BSE.

The stock opened at Rs 49 as compared to its previous close of Rs 48.05. Intraday, the counter touched a high and a low of Rs 53 and Rs 47.25, respectively.

So far, 77,771 shares of the company were traded on the BSE.

The stock touched its 52-week high of Rs 63.50 on August 27, 2009 and a 52-week low of Rs 23 on October 28, 2008.

The stock has gained 3.07% since past one week, but dropped 7.46% since past one month.

Avantel has bagged a $1.3 million contract from US-based The Boeing Company, the world’s leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined.

The company has signed a contract for the same with the American company under which it will supply airborne satellite communication equipment to the latter.

Avantel is engaged in manufacturing of telecom products and providing software development services.