Multibagger Stock under Rs 2: Watch out for this penny stock that was locked in upper circuit as it announces stellar results!
The stock gave multibagger returns of 177 per cent in just 1 month and over 750 per cent in 6 months.
On Thursday, the benchmark Indian indices ended the day weak. BSE Sensex Index was down by 0.31 per cent at a level of 62,428.54 and NSE Nifty-50 Index was down 0.25 per cent at a level of 18,487.75.
Despite being a weak market, shares of Avance Technologies Ltd surged 5 per cent upper circuit to Rs 1.74 per share from its previous closing of Rs 1.66. The stock also traded at a new 52-week high of Rs 1.74 per share.
According to the quarterly standalone results, the net sales increased by 210.58 per cent the net profit increased by 74.47 per cent in Q4FY23 over Q4FY22. The net sales increased by 26,681 per cent and net profit increased by 467 per cent in FY23 over FY22 according to the annual standalone results.
Avance Technologies recently approved a sub-division/split of equity shares, where each original equity share of Rs 10 each has been divided into 2 equity shares of Rs 5 each, which became effective from Friday, March 31, 2023.
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Avance Technologies Limited (BSE Script Code: 512149) designs and develops software solutions. The company offers a platform to provide mobile marketing, subscriber management, call conferencing, and web integration solutions. Avance Technologies serves clients in India. Avance Technologies Ltd has a market cap of Rs 68.97 crore.
The stock delivered exceptional returns, with a staggering increase of 176.19 per cent in just 1 month, an astounding growth of over 800 per cent in 3 months, and an extraordinary surge of over 1,640 per cent over a span of 3 years. Investors should keep an eye on this micro-cap multibagger stock.