Shares of Advait Infratech, a telecom products manufacturing company, have been one of the multibaggers in 2022 as it more than doubled investors' money in just seven sessions. In the last seven trading days, the microcap stock has delivered more than 115% return to its shareholders, surging from ₹191.15 on August 10 to ₹411.10 in intraday trade today. The stock has been hitting the upper circuit for the last five sessions without any major trigger.

On Monday, Advait Infratech shares opened higher for the seventh straight session and hit a 10% upper circuit at ₹411.10 on BSE, notching its highest level since its market debut in September 2020. There was a surge in volume as 0.35 lakh shares changed hands over the counter, while the market capitalisation climbed to ₹201.45 crore.

In the last one year, this multibagger power infrastructure stock has risen from its 52-week low of ₹67 on August 27, 2021, to ₹411.10 apiece levels in intraday today, registering a substantial growth of 513% during this period. The stock has given 229% returns to its shareholders in the calendar year (year-to-date basis) and 98% over one month period.

The stock, which trades in the Small and Medium Enterprises (SME) segment on the BSE, has given 670% returns since its listing on domestic bourses in September 2020. For such stocks, the trading, clearing, and settlement are done on a T+2 basis, while SME scrips are required to be compulsorily settled in demat mode.

Last week, the BSE sought clarification from Advait Infratech, with reference to a significant movement in share price. The company, in its reply on August 19, said that the movement in the share price was purely market-driven and may be a combination of various factors including market conditions. “The management of the company is in no way concerned with the movement in the price of the shares,” it said.

Established in 2010, the Ahmedabad-based Advait Infratech offers products and solutions for power transmission, power substations, and telecommunication infrastructure fields. The SME company has various verticals including turnkey telecommunication projects, power transmission installation, power substation, and telecom products, liasioning-marketing, and many others to meet the demand of the power sector. In 2019, the company established an OPGW (Optical Fibre Ground Wire) and OFC cable manufacturing unit in Sanand, Gujarat through a joint venture with TG Group, an OFC manufacturer in China.

For the financial year 2021-22, the company posted net profit of ₹5.32 crore as against profit of ₹4.78 crore for the financial year ended March 31, 2021. The total income increased to ₹79.94 crore as compared to ₹67.55 crore in the corresponding fiscal.

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