Multibagger penny stock under Rs 2: Board announces stock split of shares; reports a 500 per cent jump in net profit!

The stock gave multibagger returns of 425 per cent in just 6 months, 600 per cent in 1 year and a whopping 1,420 per cent in 5 years.

On Tuesday, shares of Avance Technologies Ltd hit 5 per cent upper circuit to Rs 1.52 per share from its previous closing of Rs 1.45. The stock’s 52-week high is Rs 2.66 and its 52-week low is Rs 0.18. In the recent trading session, the stock is hitting back-to-back upper circuits.

Avance Technologies Ltd informed that the Board of Directors of the company has approved a stock split of shares in the ratio 5:1 i.e., existing 1 (one) equity share having a face value of Rs 5 each is divided into 5 equity shares having face value of Rs 1 each fully paid-up. The expected time of completion of a stock split is approximately 2 months from the date of receipt of members' approval through postal ballot.

According to the Quarterly Results, the net sales increased by 340 per cent to Rs 2.56 crore the net profit increased by 500 per cent to Rs 0.18 crore in Q1FY24 over Q4FY23. The net sales increased by 165 per cent to Rs 30.53 crore and net profit increased by 166 per cent to Rs 0.41 crore in FY23 over FY22.

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 Ltd has a market cap of Rs 60.25 crore.

The stock gave multibagger returns of 425 per cent in just 6 months, 600 per cent in 1 year and a whopping 1,420 per cent in 5 years. Investors should keep an eye on this micro-cap multibagger stock.

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

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