3,000 Per Cent Multibagger Returns in Just 5 Years: Penny Stock Below Re 1 Jumps as Board Likely to Raise Funds by Rights Issue or Preferential Issue
The stock gave multibagger returns of 475 per cent in 2 years; 1,200 per cent in 3 years and a whopping 3,000 per cent in 5 years.
On Friday, shares of Avance Technologies gained 3.13 per cent to Rs 0.66 per share from its previous closing of Rs 0.64 per share. The stock’s 52-week high is Rs 1.15 and its 52-week low is Rs 0.52. The shares of the company saw a spurt in volume by more than 1.01 times on the BSE.
The Board of Directors of the Company is scheduled to be held on Tuesday, April 29, 2025, at the Registered Office of the Company situated at #211, Lotus Business Park, 2nd Floor, S.V. Road, Malad (West), Mumbai – 400 064 to inter-alia consider and approve the following business matters:
- To raise funds by issue of equity shares, convertible securities or any other securities, including, through a rights issue, preferential issue and/or qualified institutions placement, as may be permitted under applicable law, for expansion & diversification of the company, subject to receipt of applicable approvals, as may be required and subject to the approval of members.
- Any other business matters with the permission of the chairman.
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Avance Technologies Ltd, founded in 1985, offers a wide range of IT products and services. They not only sell hardware and software but also develop custom solutions based on client needs. Their expertise includes market research, trend analysis, and data-driven strategy development. Avance Technologies also provides a comprehensive suite of digital marketing services, including SEO, social media management, content creation, and marketing automation. Additionally, they offer specialised services in areas like influencer marketing, app marketing, and e-commerce using WhatsApp. Their clientele boasts big names like Tata Tele, Reliance, and FDC.
In its annual results, the net sales increased by 372.6 per cent to Rs 144.29 crore and net profit increased by 1,102.5 per cent to Rs 4.88 crore in FY24 compared to FY23. The company has a market cap of over Rs 120 crore. The stock gave multibagger returns of 475 per cent in 2 years; 1,200 per cent in 3 years and a whopping 3,000 per cent in 5 years. Investors should keep an eye on this micro-cap multibagger stock.
Disclaimer: The article is for informational purposes only and not investment advice.