From ₹4 to ₹170: This defence stock jumped over 4100% in 5 years!

livemint.com:

Avantel, a telecom product manufacturing company, has witnessed a sustained spike in its shares over an extended period, resulting in substantial returns for investors. After a prolonged period of stagnation, the stock gained momentum in March 2023 and has since maintained a steady upward trajectory.During this period, its share price has surged from ₹26 apiece to the current market price of ₹170, marking a significant gain of 554%.

Notably, the stock closed positively in 13 out of the past 16 months, with June 2023 recording the highest monthly gain of 50%.In the current month, the stock reached a new record high of ₹194 per share, nearing the ₹200 mark. It has already risen by 40% in June, driven by investor optimism bolstered by the company's steady stream of order wins.The recent surge in the stock has propelled it to achieve a remarkable gain of 1800% over the past three years and an astounding 4150% over the past five years, rising from ₹4.Also Read: Prabhudas Lilladher lists 2 blue-chip stocks to watch out for as marker scales new highAvantel specialises in designing, developing, and maintaining wireless and satellite communication products, defence electronics, radar systems, and network management software applications primarily for the aerospace and defence sectors.Since the early 2000s, the company has strategically repositioned itself to focus on providing system-based solutions across four key verticals: satellite communications, HF communications, electronic warfare, and radar systems.The government's Atmanirbhar Bharat initiative has placed a significant emphasis on India's defence sector, aiming to promote indigenous production and reduce dependence on imports.