Multibagger penny stock below Rs 2: Company signs non-binding term sheet to acquire B2B inventory liquidation platform Excess2Sell.com
DSIJ Intelligence-1Categories: Multibaggers, Penny Stocks, Trending
The stock gave multibagger returns of 131 per cent from its 52-week low of Re 0.52 per share and a whopping 3,900 per cent in 5 years.
On Thursday, shares of Avance Technologies hit a 5 per cent upper circuit to Rs 1.20 per share from its previous closing of Rs 1.15 per share. The stock also made a new 52-week high of Rs 1.20 and its 52-week low is Re 0.52. The shares of the company saw a spurt in volume by more than 1.06 times on the BSE.
Avance Technologies Limited, a BSE-listed technology solutions provider, has announced the signing of a non-binding term sheet to acquire Excess2Sell.com, a prominent Indian tech-enabled B2B overstock inventory liquidation marketplace. This strategic acquisition, pending due diligence and regulatory approvals, signifies Avance Technologies' entry into the burgeoning and underserved market of overstock inventory liquidation. The move aims to address the significant challenge of unsold inventory within the retail industry, leveraging Avance's technological capabilities to enhance and expand the marketplace model.
Excess2Sell.com has established itself as a leading platform connecting businesses with surplus stock to value-conscious buyers. It facilitates the efficient liquidation of overstock from manufacturers, wholesalers and retailers across diverse categories, including electronics, fashion and home goods. The platform utilizes advanced features like smart pricing algorithms and real-time insights to optimize recovery value for sellers while offering discounted, high-quality products to buyers through its intuitive web and mobile applications. This acquisition is poised to integrate Avance Technologies' strong technological infrastructure with Excess2Sell's proven marketplace, opening new growth opportunities in the B2B liquidation sector.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
About the Company
Avance Technologies Ltd, founded in 1985, offers a wide range of IT products and services. They not only sell hardware and software but also develop custom solutions based on client needs. Their expertise includes market research, trend analysis and data-driven strategy development. Avance Technologies also provides a comprehensive suite of digital marketing services, including SEO, social media management, content creation and marketing automation. Additionally, they offer specialised services in areas like influencer marketing, app marketing and e-commerce using WhatsApp. Their clientele boasts big names like Tata Tele, Reliance and FDC.
In its annual results, the company reported net sales of Rs 172 crore and net profit of Rs 5 crore in FY25. The company has a market cap of Rs 238 crore. The stock gave multibagger returns of 131 per cent from its 52-week low of Re 0.52 per share and a whopping 3,900 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.