Avance Technologies share price hit upper circuit for the fifth straight trading session to touch a 52-week high on Monday amid heavy buying volumes. The small-cap penny stock gained as much as 2% to a fresh high of ₹1.24 apiece on the BSE.
Avance Technologies shares have been rising for the past fifteen consecutive trading sessions.
Recently, Avance Technologies announced that its board of directors approved entering into a non-binding term sheet for the proposed acquisition of Checkers India Technology Private Limited.
“Avance Technologies Limited has executed a non-binding term sheet for the proposed acquisition of Checkers India Technology Private Limited, www.Excess2Sell.com, a leading techenabled B2B inventory liquidation marketplace in India,” Avance Technologies said in a regulatory filing on July 16.
The proposed acquisition is subject to the completion of due diligence, negotiation of definitive agreements, and receipt of necessary regulatory and other approvals as may be required, it added.
“This strategic move marks Avance Technologies’ entry into the high-potential, underpenetrated overstock Inventory liquidation space, aimed at resolving one of the retail industry’s most pressing challenges—unsold inventory,” the company said.
Excess2Sell allows users to register their business, complete KYC, and gain instant access to surplus inventory deals across various categories like electronics, fashion, home goods, and more. The app allows users to sell, buy, or make counter-offers, supported by real-time pricing tools and smart listing features.
Avance Technologies Share Price Performance
Avance Technologies share price has jumped 65% in one month, and 94% in the past three months. The smallcap stock has registered 41% gains on a year-to-date (YTD) basis, while it has delivered multibagger returns of 158% in two years. The penny stock has skyrocketed 4,000% in the past five years.
At 2:10 PM, Avance Technologies share price was still locked at 2% upper circuit of ₹1.24 apiece on the BSE.
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