Heavy buying and 7,100 per cent returns: This multibagger solar power stock hits new 52-week high; bags new orders worth Rs 231.59 crore!
Shares of the company gained more than 110 per cent in the last six months.
Shares of Advait Infratech Limited were locked in the upper circuit on Tuesday, however, the stock closed gaining 4.79 per cent. The stock also made a new 52-week high on Tuesday. The stock has witnessed heavy buying activity from investors in the last few days
Recently, the company bagged two new orders. The first order is for Advait Infratech's subsidiary, Advait Greenergy, which secured LOIs worth Rs. 72.69 crore from KP Group. The projects include a 30 MW solar power project in Khavda, Gujarat (Rs. 59 crore) and a 1 MW green hydrogen plant in Matar (Rs. 13.69 crore). Advait Greenergy will handle the design, engineering, procurement, testing, and commissioning for both projects. The solar project is expected to be completed in 9 months, while the green hydrogen plant will be finished within 8 months. These projects highlight Advait Greenergy's growing presence in the renewable energy sector.
The second order is for a substantial turnkey project valued at Rs. 158.9 crore in Gujarat. This project involves the installation of a new 11kV medium voltage covered conductor (AL59 ACS) infrastructure across the state. This includes engineering, procurement of all necessary materials, transportation, installation, testing, and commissioning.
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Advait Infratech Limited is engaged in business of providing products and solutions for power transmission, power substation and telecommunication infrastructure fields. It operates with various verticals such as Turnkey Telecommunication Projects, Installation of Power Transmission, substations and Telecom Products, and providing end to end solutions for the overseas. The stock has delivered multibagger returns of over 7,100 per cent in the last three years. The company has an order book worth Rs 2,095 crore.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.