This Microcap stock rose 15.4% within the first half hour of markets opening on Thursday to Rs. 437.8 from Rs. 379.4 at closing on Wednesday. The stock has a market cap of Rs. 433 crore and is trading 1.7% away from its 20 day moving average and 26% away from its 200 day moving average. It is still up 12% currently and 13.7% away from its 52 week high with volumes that are 3x the monthly and weekly average volumes.
Advait Infratech Ltd (“Advait”) said in a filing dated 13th September 2023 that it has signed an MoU (“Memorandum of Understanding”) with a Chinese firm – Goufu Hydrogen Energy Equipment Co., Ltd.(“GouFu”), a Company specialized in manufacturing of hydrogen energy equipments and related products.
The MoU will establish cooperative and mutually supportive relations between the companies wherein parties will exchange the technology, know hows and will have access to the products of the either party, to meet the need of the market through assembling and manufacturing thereafter.
This collaboration will leverage the expertise of both companies to drive towards the common goal of promoting the green hydrogen technologies and projects in India, which is expected to play a crucial role in the country’s transition to a more sustainable energy future.
Advait will manufacture and/or assemble products for the Indian market with Goufu technology and will sell under Advait’s brand which will strengthen Advait’s position in the market and allow them to offer innovative and sustainable energy solutions to its customers.
Advait Infratech provides robust products and solutions for power transmission, substation, and telecommunication infrastructure sectors in India. It was listed fairly recently in September 2020 and has returned 67% in the last 1 year period. The company also has stable shareholding over the last few quarters at 74% promoter holding and the rest held by the public. Performancewise, the company has approximately linear growth in its top line with stable bottom line margin and a low Debt to Equity at 0.2 but also reporting decently high ROE of 20%.
Written by Sandeep R
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