Multibagger stock under Rs 1: Watch out for this penny stock that was locked in upper circuit on May 05

The stock gave multibagger returns of 108.33 per cent in just 1 month and over 275 per cent in 6 months.

On Friday, the benchmark Indian indices ended the day weak. BSE Sensex Index was down by 1.13 per cent at a level of 61,054.29 and NSE Nifty-50 Index was down 1.02 per cent at a level of 18,069.  

Despite being a weak market, shares of Avance Technologies Limited surged 5 per cent upper circuit to Rs 0.75 per share from its previous closing of Rs 0.72. The stock also traded at a new 52-week high of Rs 0.75 per share. The stock is hitting back-to-back upper circuits and 52-week highs in the past 5 trading sessions.  

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Avance Technologies recently approved a sub-division/split of equity shares, where each original equity share of Rs 10 each has been divided into 2 equity shares of Rs 5 each, which became effective from Friday, March 31, 2023. 

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 serves clients in India. 

 Avance Technologies Ltd has a market cap of Rs 29.73 crore. The company reported excellent numbers in its latest Quarterly Results (Q3).  

The stock gave multibagger returns of 108.33 per cent in just 1 month and over 275 per cent in 6 months. Investors should keep an eye on this micro-cap IT stock.