Advait Infratech touches roof as its arm bags LoA for setting up manufacturing capacity of Electrolyser in India
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Advait Infratech is currently trading at upper limit of Rs. 1442.40, up by 131.10 points or 10.00% from its previous closing of Rs. 1311.30 on the BSE.
The scrip opened at Rs. 1311.10 and has touched a high and low of Rs. 1442.40 and Rs. 1205.60 respectively. So far 53835 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1442.40 on 14-Feb-2024 and a 52 week low of Rs. 206.10 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1442.40 and Rs. 1049.95 respectively. The current market cap of the company is Rs. 1466.76 crore.
The promoters holding in the company stood at 73.53% while Non-Institutions held 26.47% stake in the company.
Advait Infratech’s wholly-owned subsidiary -- Advait Greenery has been awarded the Letter of Award (LoA) for setting up manufacturing capacities for Electrolysers in India, with an annual capacity of 100MW, under SIGHT Scheme (Tranche - 1) of the Ministry of New and Renewable Energy.
The terms and conditions outlined in the LoA will be diligently adhered to throughout the execution of the project. The company is committed to achieving the specified manufacturing capacity within the stipulated timeline of 30 months, with the project commencement date set at August 09, 2026.
Furthermore, the company’s subsidiary will be eligible for an incentive benefit of Rs 148 crore over the project 5 period post commissioning the project. This incentive aims to facilitate and support the successful establishment of the manufacturing capacities, contributing to the growth of renewable energy in the country.
Advait Infratech is into business of providing products and solutions for power transmission, power substation and telecommunication infrastructure fields.
