Penny stock under ₹5: Avance Technologies share price hit 2 per cent upper circuit to ₹2.98 in Monday’s trading session. The penny stock has been hitting upper circuit for 58 sessions straight.
The penny stock has given significant return in near-term despite market volatility. Avance Technologies share price has proven to be a multibagger stock by rallying over 397 per cent in just six months and 277 per cent in one year.
What’s behind the rally?
On September 29, the company conducted its 41st Annual General Meeting (AGM) via video conferencing.
“Attached herewith is the Voting results and Scrutinizer’s report of e-voting for the 41st Annual General Meeting of the company held on Monday, 29th September, 2025 At 12:02 P.M. through Video Conferencing (“VC”)/Other Audio-Visual Means (“OVAM”).”
Another factor contributing to the rally of Avance Technologies’ stock is proposed acquisition in the B2B inventory liquidation space. In a stock exchange filing dated July 16, the company announced that its Board of Directors had approved the signing of a non-binding term sheet to acquire Checkers India Technology Private Limited, the operator of www.Excess2Sell.com, a technology-driven platform specializing in clearing overstock inventory.
The deal remains subject to due diligence, the execution of definitive agreements, and requisite regulatory and stakeholder approvals. Avance Technologies highlighted this move as a strategic step into the high-potential and relatively untapped overstock inventory liquidation market, aiming to provide solutions to the retail sector’s long-standing problem of excess stock.
Headquartered in Navi Mumbai, Avance Technologies Limited is an IT services provider offering digital infrastructure solutions, embedded device and hybrid infrastructure management, IoT management, and data center optimization. It also supports businesses in migrating, optimizing, and managing multi-cloud environments. The company caters to industries including healthcare, finance, manufacturing, and hospitality. Founded in 1985 as VMC Software Ltd., it later rebranded to its current name.
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