1,400 per cent returns: This micro-cap company enters into MoU with Government of Uttarakhand along with KPI Green Energy Limited!

The stock gave multibagger returns of 762 per cent in 2 years and a whopping 1,400 per cent in 3 years.

Advait Infratech Ltd informed BSE that the company have entered into a Memorandum of Understanding (MOU) with the Government of Uttarakhand along with KPI Green Energy Limited. The MoU is valid for a duration of 12 months, with the primary objective of jointly developing a solar park in the state of Uttarakhand.

The MOU outlines the collaborative efforts of the above-mentioned parties in the development of a solar park in Uttarakhand. The solar park is expected to contribute significantly to renewable energy generation and align with the state's commitment to sustainable energy practices. The Government of Uttarakhand, as per the MoU, has expressed its intent to provide all necessary assistance required for the commencement and successful execution of the solar park project.

Advait Infratech Ltd is engaged in the business of providing products and solutions for power transmission, power substation, and telecommunication infrastructure fields. Also, it operates with various verticals such as turnkey telecommunication projects, installation of power transmission, telecom products, etc. As of May 22, 2023, the company have 226.7 crore orders in hand.

On Friday, shares of Advait Infratech Ltd gained 7.52 per cent to Rs 384.60 per share from its previous closing of Rs 357.7 with an intraday high of Rs 388.95 and an intraday low of Rs 374.8.

Talking about the financials, Advait Infratech has a market cap of Rs 393 crore. The company reported excellent numbers in its both half-yearly results and annual results. The net sales increased by 50.69 per cent and net profit increased by 57.57 per cent in H2FY23 over H2FY22. The net sales increased by 40.99 per cent and the net profit increased by 40.24 per cent in FY23 over FY22.

The stock gave multibagger returns of 762 per cent in 2 years and a whopping 1,400 per cent in 3 years. Investors should keep a close eye on this micro-cap stock.

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