Ashish Kacholia’s Portfolio Multibagger Cable Stock Hit Upper Circuit After Being Declared as Qualified Bidder by Gujarat Urja Vikas Nigam Ltd
The stock gave multibagger returns of 165 per cent in just 1 year and a whopping 3,470 per cent in 3 years.
On Tuesday, shares of Advait Energy Transitions Limited gained 5 per cent upper circuit to an intraday high of Rs 1,481 per share from its previous closing of Rs 1,410.50 per share. The shares of the company saw a spurt in volume by more than 1.42 times on BSE. The stock’s 52-week high is Rs 2,260 and its 52-week low is Rs 520.15.
Advait Energy Transitions Limited has been selected as a qualified bidder by Gujarat Urja Vikas Nigam Ltd (GUVNL) to develop a 50 MW portion of a 500 MW/1000 MWh standalone battery energy storage system project in Gujarat. This project is part of the Tariff-Based Global Competitive Bidding (Phase-IV) initiative, which includes Viability Gap Funding Support. The project is expected to be completed within 18 months, and it will contribute to India's growing renewable energy sector by providing reliable and efficient energy storage solutions.
Advait Energy Transitions Limited also known as Advait Infratech Ltd is engaged in 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 March 31, 2024, the company has a Rs 209.60 crore order book.
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In Q2FY25, an ace investor, Ashish Kacholia bought 2,88,185 shares or 2.67 per cent in the company at Rs 1,388 per share (face value is Rs 10) aggregating to Rs 40,00,00,780 via preferential issue of shares.
Regarding the financials, Advait Infratech has a market cap of Rs 1,599 crore with a 3-year stock price CAGR of 305 per cent. The net sales decreased by 1 per cent to Rs 47.59 crore and net profit increased by 12 per cent to Rs 5.58 crore in Q2FY25 over Q2FY24. The net sales increased by 100.4 per cent to Rs 208.85 crore and the net profit increased by 159.3 per cent to Rs 21.88 crore in FY24 over FY23.
The shares of the company have an ROE of 34 per cent and an ROCE of 40 per cent. The stock gave multibagger returns of 165 per cent in just 1 year and a whopping 3,470 per cent in 3 years. Investors should keep a close eye on this small-cap cable stock.
Disclaimer: The article is for informational purposes only and not investment advice.