4,700 per cent returns and Rs 172.83 crore order book: This multibagger cable company signs MoU with TECO 2030

The stock gave multibagger returns of 285 per cent in just 1 year and a whopping 4,700 per cent in 3 years.

Advait Infratech Ltd (AIL) informed that a significant collaboration between TECO 2030, a Norwegian-based clean-tech Company developing zero-emission technology for the maritime and heavy industry specialization in developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules and AIL, which has been formalized through a Memorandum of Understanding (MoU). This MoU stands on the intent of investment from AIL into TECO 2030 and partnering up for the expansion of fuel cell technology in India as well as in SAARC Countries.

This joint venture between AlLand and TECO 2030 represents a major step forward in establishing a strong local presence in India for the development, production, and commercialization of clean energy solutions. By combining our strengths, we aim to significantly collaborate on creating these capabilities and contribute to the progress of clean energy solutions not only in India but also in the broader SAARC market.

Additionally, in reference to our prior communication on January 9, 2023, regarding the project awarded by Tehri Hydro Development Corporation India Limited (THDCIL), Advait Infratech Limited is thrilled to announce the project's successful completion. We've fulfilled all terms and conditions of the tender agreement, meticulously designing, engineering, supplying, installing, testing, commissioning, and implementing operation and maintenance for a 300kW electrolyser, a 70kW fuel cell, and a hydrogen production micro-grid system at THDCIL's Rishikesh office complex in Uttarakhand. Additionally, we're proud to report the successful 110-hour Performance Guarantee Test Run (PGTR) for this green hydrogen micro-grid project, adhering to all specifications outlined in Clause No. 1023.0 Section V of the contract.

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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 December 2023, the company have Rs 172.83 crore orders in hand.

On Wednesday, shares of Advait Infratech Ltd plunged 0.92 per cent to Rs 1,286.50 per share from its previous closing of Rs 1,298.45. The stock’s 52-week high is Rs 1,618 and its 52-week low is Rs 270.35

Talking about the financials, Advait Infratech has a market cap of over Rs 1,300 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 285 per cent in just 1 year and a whopping 4,700 per cent in 3 years. Investors should keep a close eye on this stock.

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