Multibagger Stock engaged in the business of providing products and solutions for power transmission, substation and many more hit a 20 percent upper circuit upon signing an MoU with the Government of Gujarat.
In the day’s trade, the shares of Advait Infratech Limited hit a 20 percent upper circuit at Rs. 743.90 and its market capitalization is Rs. 758 Crores. It has delivered multi-bagger returns of 117 percent in the last six months.
Advait Infratech Limited has entered into two Memorandum of Understandings (MoU) with a proposed investment of Rs. 45 Crores with the government of Gujarat which is believed to contribute significantly to the growth of the company and the state of Gujarat and will generate over 120 employment opportunities.
The first MoU is for the manufacturing and assembly of fuel cells and electrolyzers, this strategic initiative aims to leverage the state’s conducive business environment, thereby contributing to the economic development of the region.
The second MoU is for the design, manufacturing, testing, and supply of an Emergency Restoration System at Kadi, Mehsana, Gujarat in the year 2024. This project aligns with its commitment to providing innovative solutions and strengthening the company’s presence in the state.
Advait Infratech Limited is engaged in the business of providing products and solutions for power transmission, substation, and telecommunication infrastructure. It has an order book worth Rs. 250 Crores.
The company’s revenue from operations 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.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
