Small Cap Stock Soars 5% After Bagging Order From Power Grid Corporation

Shares of Advait Infratech soared up around 5% to hit a new 52-week high of ₹2,257.90.

What Happened: The surge today comes as the company bagged an order from Power Grid Corporation of India. The order is for the design, engineering, supply, testing, service and commissioning of optical fibre ground wire cable at Ladakh.

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Live line installation of optical fibre ground wire cable is a technique designed to enhance the capacity and efficiency of power transmission lines by installing an optical fibre cable on existing power lines without interrupting their operation. This method provides a reliable communication link between power stations and substations, enabling real-time monitoring of the power grid and ensuring timely maintenance.

The order is worth around ₹35.07 crore and is expected to be completed in 24 months. With a market cap of around ₹2,300 crore, the small-cap company is involved in the manufacturing and supply of power transmission products such as stringing tools, OPGW, OFC cables, aluminium clad steel wire, emergency restoration system and OPGW joint boxes.

Price Action: Advait Infratech’s share price was up 5% to trade at ₹2,257.90 in early trade on Thursday.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.