From Re 0.24 to Re 0.97 per share in just 323 days & Stock split from Rs 10 to Rs 5 to Re 1: Scrip hit the upper circuit with heavy volume

The stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 0.24 per share; 1,840 per cent in 3 years and a whopping 4,750 per cent in 5 years.

Avance Technologies Ltd, founded in 1985, offers a wide range of IT products and services. They not only sell hardware and software but also develop custom solutions based on client needs. Their expertise includes market research, trend analysis, and data-driven strategy development. Avance Technologies also provides a comprehensive suite of digital marketing services, including SEO, social media management, content creation, and marketing automation. Additionally, they offer specialized services in areas like influencer marketing, app marketing, and e-commerce using WhatsApp. Their clientele boasts big names like Tata Tele, Reliance, and FDC.

On Friday, shares of Avance Technologies hit a 5 per cent upper circuit to Rs 0.97 per share from its previous closing of Rs 0.93. The stock’s 52-week high is Rs 1.71 and its 52-week low is Rs 0.24. The shares of the company saw a spurt in volume by more than 1.01 times on BSE.

According to the Quarterly Results, the net sales increased by 17,977 per cent to Rs 105.75 crore in Q4FY24 compared to net sales of Rs 0.59 crore in Q4FY23. The company reported a net profit of Rs 2.09 crore in Q4FY24 compared to a net loss of Rs 0.07 crore in Q4FY23, an increase of 3,086 per cent. In its annual results, the net sales increased by 372.6 per cent to Rs 144.29 crore and net profit increased by 1,102.5 per cent to Rs 4.88 crore in FY24 compared to FY23.

Also Read: 1:1 Bonus Share & 10:1 Stock Split: Ashish Kacholia bought 9,10,000 shares of this multibagger civil construction company; Scrip hit upper circuit

The company undertook two stock splits in 2023. The first stock split happened on March 19, 2023, where each existing share was subdivided into two shares (2:1 split). This was followed by another stock split on November 10, 2023, where each existing share was further subdivided into five shares (5:1 split). In a separate event on February 17, 2024, the company approved raising funds through a preferential allotment of convertible equity warrants for up to Rs 74.10 crore.

The company has a market cap of over Rs 190 crore. The stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 0.24 per share; 1,840 per cent in 3 years and a whopping 4,750 per cent in 5 years. Investors should keep an eye on this micro-cap multibagger stock. 

Disclaimer: The article is for informational purposes only and not investment advice.