Advait Infratech zooms on inking MoU with Goufu Hydrogen Energy Equipment
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Advait Infratech is currently trading at Rs. 420.50, up by 41.10 points or 10.83% from its previous closing of Rs. 379.40 on the BSE.
The scrip opened at Rs. 394.80 and has touched a high and low of Rs. 437.80 and Rs. 390.00 respectively. So far 73662 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 489.00 on 08-Aug-2023 and a 52 week low of Rs. 200.23 on 28-Sep-2022.
Last one week high and low of the scrip stood at Rs. 437.80 and Rs. 356.65 respectively. The current market cap of the company is Rs. 432.48 crore.
The promoters holding in the company stood at 73.53%, while Non-Institutions held 26.47% stake in the company.
Advait Infratech (AlL) has signed a Memorandum of Understanding (MoU) with Goufu Hydrogen Energy Equipment (GouFu), a Company specialised in manufacturing of hydrogen energy equipment’s and related product based in China. The intent of this MoU is to establish the cooperative and mutually supportive relation between both the parties for catering the present and future requirements of Indian Market for the green hydrogen technologies and projects. Under this arrangement, both the parties will exchange the technology, know - how and will have access to the products of the either party, to meet the need of the market through assembling and manufacturing thereafter.
This collaboration will leverage the expertise of both companies to drive towards the common goal of promoting the green hydrogen technologies and project in India, which is expected to play a crucial role in the country's transition to a sustainable energy future. AIL will manufacture and/or assemble product for Indian market with GouFu technology and will sell under AlL's brand which will strengthen its position in the market and allow it to offer innovative and sustainable energy solutions to its customers.
Advait Infratech is into business of providing products and solutions for power transmission, power substation and telecommunication infrastructure fields.
