Multibagger penny stock under Rs 5 and reports a 1,555 per cent jump in net profit: Board announce stock split!

The stock gave multibagger returns of 225 per cent in just 6 months, 1000 per cent in 1 year and a whopping 2,140 per cent in 5 years.

On Friday, shares of Avance Technologies hit 2 per cent upper circuit to Rs 2.24 per share from its previous closing of Rs 2.20. 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 company fixed the record date for stock split as Friday, November 10, 2023.

The company also announced its Quarterly Results wherein the net sales skyrocketed by 1,049 per cent to Rs 16.98 crore the net profit skyrocketed by 1,555 per cent to Rs 0.70 crore in Q2FY24 over Q2FY23. 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 89 crore.

The stock gave multibagger returns of 225 per cent in just 6 months, 1000 per cent in 1 year and a whopping 2,140 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.