Micro-cap stock jumps 8 percent in the day’s trade after it signs a memorandum of understanding (MOU) along with KPI Green Energy with the Government of Uttarakhand for jointly developing a Solar Park in the state of Uttarakhand.
At 1:36 a.m the shares of Advait Infratech Limited were trading at Rs. 384.90 per share, up 7.60 percent from its previous day close price of Rs. 357.70 and its market capitalization is Rs. 392.60 Crores.
As per the company’s filing, Advait Infratech Limited, along with KPI Green Energy Limited has entered into a Memorandum of Understanding (MOU) with the government of Uttarakhand for jointly developing a Solar Park in the state of Uttarakhand.
The solar park is expected to contribute significantly to renewable energy generation and align with the state’s commitment to sustainable energy practices. The Government of Uttarakhand, has expressed its intent to provide all necessary assistance required for the commencement and successful execution of the solar park project as per the MOU and the MOU is valid for a period of 12 months from the date of signing.
The company’s revenue grew 30.5 percent from Rs. 78.66 Crores in FY22 to Rs. 102.65 Crores in FY23, accompanied by increasing profits of Rs. 5.32 Crores to Rs. 8.12 Crores.
It has reported a return on equity (ROE) of 19.86 percent and a return on capital employed (ROCE) of 27.08 percent, it is making good returns on its equity and capital employed.
Advait Infratech Limited is engaged in the business of providing liasioning marketing products and end to end solutions for power transmission, power substation, and telecommunication infrastructure projects.
Written by: Bharath K.S
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