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By Malvika Gurung
Investing.com — The mobile data service provider Avance Technologies (BO:) is a multibagger stock that has given a tremendous return of 663.16% to its shareholders so far in the calendar year 2023.
The penny stock hit a new 52-week high of Rs 1.45 per share in the previous session on May 29, ending the day with a market capitalization of Rs 57 crore.
Avance Technologies’ shares have been continuously rising for two months now, and have soared 400% during this period.
The penny stock will be in focus this week as its Board of Directors will meet on Tuesday, May 30, 2023, to approve the audited financial results for the financial year ended March 31, 2023.
The company’s trading window for dealing in its securities has been closed from April 1, 2023, for designated persons and their immediate relatives, and shall reopen 48 hours after the declaration of the financial results, it said last week.
In one year’s time, Avance Technologies’ shares have skyrocketed a whopping 491.8%.
InvestingPro models appear bullish on the penny stock and have an average fair value of Rs 1.62/share set on it.
At Avance Technologies’ last traded price, the average fair value is at a potential upside of 11.5%. InvestingPro sees the most bullish fair value set on the small-cap stock at Rs 2.69/share, indicating a strong upside of 85.5%.
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