The shares of Advait Infratech Ltd were trading at Rs 629 levels till the afternoon on Tuesday afternoon. The stock has been volatile and has gained approximately 13 per cent in a month.
Advait Infratech is engaged in business verticals such as turnkey telecommunication projects, installation of power transmission, substation and telecom products, liasioning -marketing, and providing end-to-end solutions to the customers.
The board of the company recently approved a bonus issue of shares. The shares will be issued in a ratio of 1:1. This means for every fully paid-up equity share held an additional share will be issued. The record date is yet to be determined by the board of directors.
In addition to this, the company recently announced that it received an order from Power Grid Corporation of India for package ERS-1 for the procurement of ERS for up to 400kV transmission lines through indigenous vendor development under the company’s vertical of the Emergency Restoration System Department.
The order is to be executed within 18 months from the date of Notification of the Award. The deal between the company is worth Rs 18 Crores.
In June, around the same time, the stock was trading at Rs 180 a piece on BSE. From there it has spiked up to the current levels logging a multibagger return of 266 per cent in the span of just 5 months.
On a Year to Date (YTD) basis, the stock has risen from Rs 120 in January to the current levels, logging a multibagger return of 425 per cent. In the span of a year, the stock has delivered a multi-bagger return of 636 per cent.
In Q2FY23, the company earned a total revenue from the operations of Rs 37.68 crore which increased from Rs 33.71 crore in the same period a year earlier. Their net profit in the period stood at Rs 2.60 crore compared to Rs 2.87 crore in Q2FY22.
The small-cap company has a market capitalization of Rs 320 crore and a dividend yield of 0.16% as on November 22nd, 2022. The promoters hold a 73.52 per cent stake in the company and the rest 26.48 per cent is held by the public.
Written by Anoushka Roy
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