On Monday, the Indian benchmark indices started the day in the green. BSE Sensex Index is up by 0.55 % at 61,387.42 and NSE Nifty-50 Index is up by 0.54 % at 18,167.35.
Avance Technologies, a true standout, skyrocketed by an impressive 5% upper circuit, reaching Rs 0.78 per share from its previous close of Rs 0.75. Setting new records, it even hit a remarkable 52-week high at the same price. This incredible momentum has persisted, with the stock dominating back-to-back upper circuits and 52-week highs for the past 5 trading sessions.
Adding to the excitement, Avance Technologies recently announced a sub-division/split of equity shares, effectively dividing each original equity share of Rs 10 into 2 equity shares of Rs 5 each, a move that came into effect on Friday, March 31, 2023. Prior to the recent stock split, the corporation undertook share consolidation and prior to this, the company granted bonus shares in the ratio of 4:1 and a stock split from Rs 10 to Rs 1.
Avance Technologies Limited (BSE Script Code: 512149) is a force to be reckoned with in the software solutions domain. Their innovative platform offers a range of cutting-edge solutions, including mobile marketing, subscriber management, call conferencing and web integration. Clients across India have been reaping the benefits of their services.
With a market capitalization of over Rs 30 crore, Avance Technologies has proven its mettle in the latest quarterly results (Q3), delivering exceptional numbers that left investors astounded. The company is almost debt free. Also, the company has improved its debtor’s day from 1,893 days to straight 76 days. The stock has a PE of 0.29x whereas the sectoral PE is 27.59x.
In just one month, the stock has generated multibagger returns of a staggering 115% and over a six-month period, it has surged by an incredible 275%. Avance Technologies Ltd company’s stock belongs to the IT sector that should be kept under the watchlist.