AGC Networks has frozen upper circuit of 20% at Rs 235 on reporting over three-fold jump in net profit at Rs 23.96 crore the quarter ended March 2012, compared to Rs 7.53 crore in a year ago quarter.

AGC Networks (formerly Avaya GlobalConnect) is trading 6% lower at Rs 262, after Essar Group decided to acquire 59.13% stake (8.42 million shares) held by the Avaya, for Rs 245 a share.

Avaya GlobalConnect is trading 7% higher at Rs 282 on reports that Aegis, the business process outsourcing arm of the Essar Group, is in advanced talks to acquire the company.