Advait Infratech's stock zooms up by over 100% in 5 days

22 Aug 2022 , 03:14 PM

On Monday, Advait Infratech shares reached a new high since its market debut in September 2020 when they were stuck at the 10% upper circuit at Rs411.10 on the BSE. The stock has soared 109 percent in the last five trading days from a base of Rs197. The S&P BSE Sensex, in contrast, fell by around 1% at that time.

The unexpected increase in the business's stock price, according to Advait Infratech, is unrelated to the company and is solely the result of market forces. "We are unaware of what has caused the price of our shares to change significantly. The share price fluctuation is entirely determined by the market and may be influenced by a number of variables, including market conditions. The company's management has no interest in how the share price is fluctuating "On Friday, Advait Infratech provided clarification.

On the BSE, Advait Infratech trades in the "M" category in the SME section. In the SME category, trading, clearing, and settlement all take place on a T+2 basis. Trades executed in BSE SME scrips must be settled in a Demat manner per law.

Advait Infratech is in the business of offering goods and services in the domains of telecommunication infrastructure, power transmission, and power substations. It engages in a variety of business verticals, including turnkey telecommunication projects, installation of power transmission substations, liasioning-marketing of telecom products, and provision of end-to-end solutions to international clients. Additionally, it produces and provides capital stringing tools for transmission line construction.

Advait Infratech built a new plant to produce ACS wire, stringing tools, joint boxes, ERS, and assembly utility during the fiscal year 2021—2022 (FY22). As a result, the company will produce tools and joint boxes locally to meet domestic demand.